What Are The Functions And Coverage Characteristics Of Life Insurance? 
Life insurance is a financial protection and accumulation product with legal , tax , and economic elements . It is a unique wealth creation and protection tool provides certainty and piece of mind by ensuring a sum of cash is available for heirs at your passing . For cash value life products , it may also provide access to cash for lifetime needs . Life insurance is purchased based on family or business protection needs or for philanthropic purposes . The list is needs that can be met by life insurance is quite extensive as it is versatile financial instrument . 