Life insurance is a big deal. For many people, it's among the most important purchases they will ever make. A well-chosen life insurance policy can protect families from hard financial times after a loved one passes. It can help families cover the costs of a funeral, major remaining debts and higher education for children, and replace lost income from the deceased.
Still, many people don't understand life insurance and what it can mean to them and their families. They either don't think it is important or they assume they cannot afford a term life insurance policy that offers the coverage they need.
The following infographic sets the facts straight and covers many things the average person should know about life insurance.