What Are Some Functions Of Life Insurance? 
The main function of Life Insurance is to protect your family and loved ones in case of your death . If you were to die , any debts that you owe , as well as the costs associated with your funeral , could be passed to your family and loved ones . Life Insurance may not keep some of these debts from passing to them , but it would certainlylessen the amount owed . Life Insurance can also be used as a savings and investment vehicle . Certain life insurance policies are tied to investment accounts and market indexes , which allows the policy to grow . These policies still have a face value , but they also will build a cash value . This cash value can be used as a loan from the policy , or they can simply be used to increase the amount of payout at the time of payment . 