Is your family capable of paying the mortgage in your absence? Would they be able to take time off from work to take care of you if you become terminally ill? And what about the expenses related to your funeral? Having a lump sum from a life insurance policy can assist in reducing any outstanding debts, covering final expenses, establishing an investment fund for continuous income, restructuring business ownership, or providing an inheritance or donation, among other possibilities. The ultimate purpose of these funds is entirely up to you. Life insurance serves as a means for you to ensure the well-being of your loved ones after you pass away.