A note: We’re talking about Term Life Insurance, which means you get insured for a certain time.In this instance, once your term is up, you’re no longer covered.The alternative is Whole of Life Insurance, where you’re covered for your whole life.Just like Ronseal, it does exactly what it says on the tin.Whole of Life is considerably more expensive than Term Life because it’s guaranteed to payout.The insurers will lose their bet that you’ll outlive your policy.In this case, they’ll charge you enough via premiums to make it worthwhile.Remember: insurance is a business whose main goal is to make money for its corporate overlords, who may or may not be lizards in suits, depending on the conspiracy theories you read online.