Why Should I Buy Term Life Insurance? 
You should buy Term Life insurance if you have a temporary situation that would turn out badly if you were to pass within the next x number of years -LRB- the x being the number of years for which you should get the Term policy -RRB- . E.g. . You are saving money to send your two children to college . They are age 10 and 12 . You just got a promotion and anticipate being able to put away $ 1,000 / month for their college education . This should enable them to get into most schools and you are feeling good about that . But suddenly your company closes its doors . Or you are diagnosed with a serious illness that requires expensive treatment and forces you to stop working for months . Or the ultimate tragedy , you pass away . There is no need to explain how difficult it could be for your family to function for the next years , much less save up for college . Relatively inexpensive , 15 year Term Life insurance could have taken care of all of that . If you are in good health and able to pay an affordable price , and if you have any temporary needs in your home or business , Term Life insurance can be a value beyond measure . 