What Are The Functions Of Life Insurance? 
Some functions of life insurance are : 1 -RRB- To replace lost income upon the death of a financial provider . 2 -RRB- To replace lost services provided by the person who died . 3 -RRB- To provide financial support to carry survivors through a time of transition and grief . 4 -RRB- To provide money for a business to find and train a new key employee . 5 -RRB- To buy a share of a business when one partner dies . 6 -RRB- To pay off loans or other debt , rather than leave them to survivors to repay . 7 -RRB- To borrow from cash value for college , retirement , or other expenses . 8 -RRB- To pass an estate from one generation to the next in a tax favorable manner . 9 -RRB- To give to charity . 10 -RRB- To pay for funeral , burial , and other final expenses . 