Watch this 2-minute video to learn how a supplemental life insurance retirement plan – or SLIRP – can allow you to get money when you want to, or need to, without hassle. Life Insurance is primarily intended for death benefit protection and is subject to underwriting. Loans against your policy accrue interest and decrease the death benefit and available cash surrender value by the amount of the outstanding loan and interest. Accessing cash value will reduce the available cash surrender value and death benefit.