Life insurance isn’t something most people like to think about. But, it can be an important way to protect your family if you’re not there to provide for them anymore.
Term life is the simplest (and often cheapest) form of life insurance policy, and there are no investments or cash value to manage. A term life insurance policy covers you for a set number of years, generally between 10 and 30 years. If you die within that period, your family will receive a death benefit — a set amount chosen when you buy the policy. If you live beyond that period, your policy lapses and has no value.
While a term life insurance policy won’t help you build an inheritance for children or leave a financial legacy, it can help you protect those you love from the sudden loss of your income during the years they need you most. For example, this can be when you have young children or are working towards big…
