Most of us purchase life insurance for its death benefits. We take comfort in the fact that our loved ones will be taken care of if we suddenly leave them. Your final expenses can be a huge burden to your family. Funeral costs are just the beginning, there is also unpaid mortgages and loans, unpaid debts, etc. This is where life insurance comes in. In the event of your death, you know your loved ones will not have a hard time. Although, there are other uses for it.