It depends on the cash value of the policy, not your premium. That is, the cash value of the policy is 20000, and the loan for you is 16000, which is 80% of the cash value. Insurance always depends on the cash value of your insurance, whether it is a loan, withdrawal of money or surrender, you can give as much as your cash value, regardless of your premium. It seems that you were cheated and bought insurance without knowing the cash value of your insurance. ...