A whole life insurance policy is perfect when you want to ensure your family members do not face any financial difficulty in case of your unfortunate death. This policy provides excellent protection to your family members when you are not there to take care of their needs. You will be covered for the specified years. Make sure you pay the premiums on time to keep this policy in force and active.
You can take this policy for 10-30 years. Some insurance companies offer longer term policy in this category. Evaluate your life insurance requirements and choose the policy that meets your needs and goals. You will usually want to protect yourself up to the time you are the main earning member of your family. The requirement for this policy comes down once you retire and your children are capable of taking care of their financial needs.