Yes, inflation erodes the real value of other life insurance coverage. That’s why the additional coverage of Guaranteed Issue Life is important to help fill the gap, so your dependents are not burdened with significant debt when you die. The extra money will help your loved ones pay funeral and burial expenses (which continue to rise each year), and take care of outstanding debts, such as credit cards and medical expenses. In addition, it may allow you to bequeath a small inheritance.