It's one of those things that no one really likes to think about: that none of us will live forever. However, while the single with no dependents might simply have to accept this ugly fact about life and its end, those either married or with dependents do need to think a little more about matters.
If you were to die, would your partner be able to keep on living the life they are accustomed to? Would your children still have enough money for college and so on?
This is what the insurance business is all about, insuring against such risks. Here there's two major types of it. For example, 20 year term life insurance. This involves you paying a premium each month for the 20 year term and if you should be unfortunate enough to die in that period then your dependents get taken care of.
There's also with profits insurance, where in return for a higher premium you get not just he life cover but also a savings plan: some of the money you pay over is invested and comes back to you.
The real point about these forms of insurance is that if you're going to get it, you need to get quotes from a number of different suppliers. Like, say, AIG term insurance or Prudential term insurance. Only by looking at what the market has to offer can you be sure of getting the best deal.