There are two primary forms of life insurance: term life and permanent life insurance.
A term life insurance policy is in place for a set time (ie. 18 years), in which coverage is provided during the 18 year term as long as premiums are paid.
Permanent life insurance comes in two forms: whole life insurance and universal life insurance. Both of these policies are in effect for as long as premiums are paid.
The primary reason for buying a life insurance policy is to take care of your loved ones financially in the event of your death. Understanding your current financial situation is key to shopping for life insurance so that you get the appropriate amount of coverage needed for your family.