I am learning more and more about life insurance since my step-dad passed away. I can't believe that people really get Cash Value life Insurance. It just doesn't make any sense to me, but then I am not an expert in the field either. I just hear what the salesman wants me to hear. I am wondering what other people think about the matter. My question is why pay nearly 3 times as much for a 10th of the coverage. Granted, term life insurance gradually decreases in value, but later in life you are not going to need as much insurance as you do now. Right now I have a Husband and children that I stay home with. If I were to suddenly pass away now, not only would he be left with the funeral expenses and the loss of my mediocre income, but he would also be left without child care and that can be very, very expensive. The amount of Cash Value Life Insurance that I can afford would never come close to replacing the financial stability that I currently offer to my family.

Term life insurance on the other hand, from what I understand, is less expensive and offers greater coverage, more to the tune of what my family would actually need to replace me. term life insurance rates are much lower than Cash Value insurance but, the coverage gets lower as I age, then again, so do my expenses. My house should be getting paid off, my children grown and the cars paid. By the time I am "old enough" to pass on, I should not have many bills or expenses to leave my husband.

Is there something that I am missing? Something I do not know about? Please let me know your comments and feelings on the matter. I am just struggling with the fact that a mere $50K is not nearly enough to cover the costs associates with losing a loved one.