is insurance an asset 
depending on the type of life insurance policy and how it is used permanent or variable life insurance could be considered a financial asset because it can build cash value or be converted into cash simply put most permanent life insurance policies have the ability to build cash value over time 11the bottom lineinsurance helps to protect you and your family against unexpected financial costs and resulting debts or the risk of losing your assets insurance helps protect you from expensive lawsuits injuries and damages death and even total losses of your car or home sometimes your state or lender may require you to carry insurance although there are many insurance policy types some of the most common are life health homeowners and auto the right type of insurance for you will depend on your goals and financial situation 