Whether we like it or not, and whether we’ve accepted it or not, death is a part of life. No one lives forever. We can’t. It’s unnatural, and as of today, no great scientist has figured out a way to do so. Eventually, we’re all going to die.

As depressing as that sounds, there are ways to ensure the loved ones you leave behind are taken care of, or at least not left in financial ruins. How? By purchasing a life insurance policy.

A life insurance policy, like any other insurance policy, pays the policyholder (or, in this instance, the policyholder’s beneficiary) in the event of an accident (an accident would be death for life insurance policies). When you die, the money from your life insurance policy will be given to your beneficiary. Your beneficiary might be your spouse, your parents, your children – whomever.

Unlike other insurance policies, life insurance policies can be used while you’re still alive, too. If you find yourself and your family in a financial emergency, most life insurance companies allow you to cash in, or borrow from, you existing life insurance policy.

Life insurance policies come in two main forms – term life insurance and whole life insurance. Term life insurance policies cover you for a certain period of time. Some term life insurance policies can last as short as five years and as long as 30 years. Whole life insurance policies cover you for the rest of your life, and tend to be more expensive than term life insurance policies; however, they do carry certain benefits, such as savings components, that term life insurance policies lack.

Before you purchase a life insurance policy, do some research on term and whole life insurance. One of them is guaranteed to fit your needs, and for the rest of your life you can rest assured knowing that your beneficiary will be alright when your time for death comes.