See How Do I Use a Policy to Eliminate Debt? The concept is very much the same. Borrowing money from your policy for any reason, whether it is to pay off a debt or make a large purchase, can be very beneficial since the money that is borrowed is still earning dividends for the policy. This means no lost opportunity cost, and if you pay it back, your death benefit and cash value will be fully restored as if you never took a loan out at all!