What Are The Features Of Life Insurance? 
Features of life insurance depend on the type of life insurance . There are two basic types : term life insurance and permanent -LRB- or cash value life insurance -RRB- Term life insurance offers death benefit coverage to provide money if the insured dies while the contract is in force . Permanent life insurance offers death benefit coverage , and builds cash value which can be used for a number of different uses . Some examples of things you can do with the cash value of a life insurance policy include : pledging it as collateral for a loan from a bank , using it as a savings account for emergencies or other various cash needs , and generating retirement income with the cash in a policy . 