In your absence it will provide for those that depend your income. Life insurance has many uses. It can provide for your family, pay for children's education, help your survivors buy out a business partner, pay off debts, and pay estate taxes and final expenses. Term insurance is the least expensive it has ever been and allows you to obtain large amounts of coverage for very little cost. However, when the "term" expires this coverage can become quite expensive to continue. If you want life insurance to last as long as you do it is wise to have part of your portfolio in permanent coverage.