Can you borrow money from group life insurance?

Group life insurance policies typically do not offer a cash value component that can be borrowed against. Unlike permanent life insurance policies such as whole life or universal life insurance, group life insurance is typically term life insurance, meaning it only provides coverage for a specific period of time, usually one year. Group life insurance policies are typically purchased by an employer or other group organization on behalf of its employees or members, and the premiums are paid by the employer or organization. The benefit of group life insurance is that it provides a low-cost way for individuals to obtain life insurance coverage, but it does not build up any cash value over time. As a result, it is generally not possible to borrow money from a group life insurance policy. The policy only provides a death benefit to the beneficiary named by the insured in the event of their death. If you need to borrow money, you may need to consider other borrowing options, such as personal loans or lines of credit. It's important to carefully consider the terms and interest rates associated with any borrowing option, and to ensure that you have a plan to repay the borrowed funds.