Why Have Term Life Insurance? 
Some reasons to have Term Life Insurance are as follows . Keep in mind that these reasons are all for if you should die . Unless you buy a term life policy with living benefits , term life will not pay anything unless you die while the policy is in effect . 1 -RRB- To replace your income ; 2 -RRB- to pay off your home ; 3 -RRB- to pay for a nanny for your children ; 4 -RRB- to pay for your children 's college education ; 5 -RRB- to provide your business partner with a way to buy your business ; 6 -RRB- to to pass money to your heirs ; 7 -RRB- to pay back a loan ; 8 -RRB- to to pay for your funeral , 9 -RRB- to ease the pain for your loved ones ; and/or 10 -RRB- to have peace of mind . 