2. Final expenses - using life insurance to pay for funeral and burial expenses.
3. Income for dependents - a life policy can provide much needed income for your dependents when you die. Many times this is used for children, but can also be used for a partner that has a loss of income.
4. Inheritance - using a life insurance policy as a inheritance even if you don't have substantial assets to pass on to your beneficiaries.
5. Paying taxes or make charitable contributions.
6. Providing living benefits including critical, chronic & terminal illness benefits.