Loans typically can be taken from a life insurance policy at anytime. With that said, it is always important to check the insurance company you are considering, as some companies do not allow loans to be taken in the first policy year. The insurance product we select is also important.
For example, survivorship policies are sometimes used to generate strong long-term cash values. While this is attractive, many survivorship policies do not allow loans in the first policy year. Getting into detail, it is worth noting that some companies will ask that one wait ten business days after making a deposit before requesting a loan.
Some insurance companies want to ensure that the funds clear from a policy holder’s bank account before they release the funds via a loan. So, the basic answer to the question is “Anytime!” with a few exceptions.