Final answer:
Life insurance can be used as an employee benefit, funding medium, and a form of business interruption insurance but not as a profit sharing plan, which is tied to company profits distribution and not related to life insurance.
Step-by-step explanation:
Life insurance can be utilized in business in several ways to provide financial benefits and security. However, there's one option among the choices given that doesn't align with the typical uses of life insurance in a business context. Life insurance can indeed serve as an employee benefit, where it is offered to employees as part of their compensation package. It can also be used as a funding medium, where the cash value of a policy can be borrowed against for business needs. Additionally, life insurance can function similarly to business interruption insurance in the event of the death of a key person whose absence would financially impact the business.
The option that does not fit as a traditional use of life insurance in business is 'as a profit sharing plan.' Profit sharing plans are usually tied to the profitability of the company and involve distributing a portion of profits among employees, which doesn't directly connect to the function or purpose of life insurance.