Life insurance can be the foundation of your financial security and provide comfort and stability for your family. The purpose of life insurance is to help provide your loved ones with financial protection after you die, in exchange for the premiums you pay to your insurer during your lifetime. Some life insurance policies can provide you with financial protection for a specific duration. In contrast, others accumulate cash value, offering a living benefit that can be used for any purpose, such as helping supplement retirement income, funding for a child’s education, or cash for emergencies.