Anything you want it to cover.  The insurance company when you pass will send a check to your designated beneficiaries.  They can use the money for any expenses.   We recommend that you provide instructions on how the money is to be used.   For example: Pay for funeral and burial expenses.   Pay for house or rent payment for surviving spouse. Cover daily living expenses such as food, utilities, gas, credit cards, and car payment. Leave extra money for your loved ones.