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Fact is - with or without you ... life goes on.

But facing the fact of your demise, and actually doing something about it, brings priceless peace of mind when you actually consider what circumstances your family might face when you're no longer around...

There are car payments and other monthly bills, (not to mention the kids' tuition and the monthly mortgage) which may prove a considerable hardship for your family when they no longer can depend on your steady income.

Whether you choose the more affordable term life insurance, the traditional whole life insurance, or whole life's more flexible but riskier alternative, universal life, most insurance companies can cover most or all of your family's expenses long after you've thrown off this mortal coil:

Term Life Insurance

Term life insurance is so-called because its protection extends on an agreed period of time (anywhere from 1 to 30 years), including a death benefit payable only during the agreed term of coverage.

Monthly premiums for term insurance are usually cheaper than "regular" or whole life insurance, and are renewable annually. Each time you renew the policy, the payments increase, but in theory so will your earning power - making term life insurance the more affordable option for young families just starting out.

Permanent or Whole Life Insurance

You'll have to pay higher annual premiums than for term life insurance, but permanent life insurance payments never go up, so in the long run payments are actually cheaper.

In addition, permanent or whole life policies build up cash value that you can later borrow against in the event of a financial pinch.

How Much Coverage?

As mentioned above, life insurance policies can cover more than the burden of your final medical bills or funeral costs.

Consider your family's financial obligations in the way of mortgage payments, your child's education, or other ongoing costs that may factor into keeping your family solvent after your departure. Many insurance experts will advise that the amount of the policy you purchase should be anywhere from five to eight times your annual income.

Finally, as with any insurance policy or financial service offered, it always pays to shop around before deciding on the best deal on life insurance protection.

On the Web, find out more about life insurance with facts and information on what type of insurance policy is right for you and your family, advice for first-time buyers, and online tools and calculators for acessing how much life insurance you really need...

Life Insurance - Excellent intro to the subject from MetLife with a discussion on purchasing the right amount of life insurance, a Survior Needs calculator, more at Life Insurance 101 with facts on term life and permanent life insurance, glossary, FAQ, related links.

Insurance.com Life Insurance Center - One-stop browsing for facts and how-to's on the subject including tools and calculators, tips for first-time buyers, ways to save on life insurance and lots more in their article library.

LIFE - Clear guide to various types of life insurance, needs analysis, tips on purchasing a policy, glossary, printable consumer guide.

Financial Guide : Life Insurance: How Much and What Kind to Buy - Good overview, policy comparision table, printable worksheets for calculating needs, suggested reading, related links.

Clarkhoward.com - Life Insurance - The radio talk show host & consumer guide with online updates and tips for selecting and buying term life, whole life, long term care insurance and related info.

also see related article -> Does Life Insurance Still Matter?

Don't Waste Money on Insurance You Don't Need

also see -> Term Life Insurance

Universal Life Insurance | Whole Life Insurance