What can Life insurance can be used to pay off?

Answer 1

If you mean, can you use an insurance policy itself to pay for something, that would be unusual, although you can make any kind of deal that you want, if the other party agrees. Some kinds of insurance policies have cash value and can be cashed in even while the insured person is still alive; these are called "whole life" policies, as distinct from term policies. Cash it in, then spend the cash, however you like. Otherwise, the insurance policy will eventually pay a death benefit. That may, of course, be too late to be useful to you, especially if you are the insured. You can't spend money after you die.