What Does Life Insurance Provide? 
What does Life Insurance provide - CASH when it is needed most , i.e. , upon the death of the insured ! Cash to pay the insured 's funeral expenses , for payment of debts , -LRB- Credit Card , Car & Mortgage loans , and estate taxes if applicable -RRB- to providing money for children 's education expenses and a to provide a lifetime of income for the Survivor . Some insureds designate a favorite charity to receive their life insurance proceeds . 