as per topic,and i am most concerned about would it reduce my projected cash bonus,terminal bonus or surrender value,thanks
It all depends on how you will be borrowing this money...
I am a licensed agent and my focus is on life insurances. If you decide that you wanted to get some money from you policy it would be best to take a withdrawal instead of a loan.
a withdrawal will take away from your cash value in the policy and will not affect your policy duration or death benefit. the loan on the other hand will. some people think that they can take the loan and never pay it back and just have it deducted from the death benefit paid to the beneficiary. but what ends up happening when you take the loan out is that you accrue interest and it starts eating away at the duration of your policy. So if you have a policy illustrated to the age of 95 and take a loan out and not pay it back, you could be shortening your policy to the age of 70.
If you really need the money, take it as a withdrawal, not a loan.