What is one of the primary goals of utilizing education funds in life insurance policies?

One of the primary goals of utilizing education funds in life insurance policies is to support college education. Life insurance policies can provide a specific vehicle for parents or guardians to save for their child's future educational expenses. By accumulating cash value within the policy or utilizing specific riders, the policy can ensure that funds are available when the child reaches college age.

This approach combines the benefits of life insurance—such as providing a death benefit to protect the family financially in case of untimely loss—with a strategic savings plan aimed at covering significant future costs, specifically higher education. Furthermore, funds withdrawn for educational purposes can often be accessible under favorable tax treatment, enhancing the appeal of this planning strategy.