Cash value life insurance will pay for your final expenses, and also pay an allotted amount to a beneficiary, in the event of your death. This insurance also offers benefits in instances other than just death. Cash value life insurance is also used to help plan for long term savings, like retirement, depending on how well your fund grows and develops. You can also use the funds to pay for any premiums you may have in the future. A cash value life insurance policy is a wise investment for anyone.