Uncertainty faces us all in this modern world, and with the huge challenges we and our families face every day, it's more important than ever to provide all the protection we can for our loved ones.
One of these obligations is to protect against the possibility of the loss of your income if you were to pass away.
How would your family be able to cope financially? Could they continue to live the life they're used to? Would they be able to pay the mortgage and other bills? One way to protect against this unpleasant possibility is to get life insurance.
Although some people think that life insurance is complicated and expensive, short term policies are relatively easy to understand.
Short term life insurance policies are not only simpler than other types of insurance, but they're also much less expensive.
You can often get term life insurance for only a few hundred dollars per year.
That's because the coverage is limited in time to a period called the term.
You can get a policy to cover just yourself, or you can cover you and your spouse with a joint term life insurance policy for less than the cost of insuring each other separately.
A term policy pays out benefits upon the death of somebody covered, but if the term passes without a payout, the policy ends without value.
When you're gone, your family can use your life insurance death benefit to pay off a mortgage or other debt, to fund a college education, or just to provide income so that they can continue to live comfortably.
If you want to know more about term life insurance plans, including how much you would pay per month to have one, get insurance quotes online and compare different plans.
With so many companies offering these plans these days, it's easier than ever to find one that meets your budget.