Term life policies pay a death benefit when the insured passes away while the life insurance policy is "In Force".
You can't cash in the term life policy and get your money back, or get a policy loan from a term life insurance policy.
The only type of term life insurance that has a cash value is ROP Term. This stands for Return of Premium Term Life Insurance.
An ROP term life policy will pay back a large portion of paid premiums if the insured person outlives the entire term of the life insurance policy.