Ask yourself this question: If you were to die, would your family struggle to pay for your funeral, the mortgage or daily living expenses?

A life insurance policy is a contract with an insurance company. In exchange for premium payments, the insurance company provides a lump-sum payment (known as a death benefit) to beneficiaries—a designated person or group that receives the benefit—upon the insured person’s death.

You might already know why you should get life insurance, but the research is making things more confusing by the second.