Life insurance products have advanced during the last twenty years or so from the initial insurance policy where your life was covered by insurance for a certain amount of money, to be paid on your loss of life, in exchange of a regular monthly premium paid for by you. So, in addition to pure life insurance your insurance plans could also protect you and your family from loss of income. The valuable thing about a life insurance policy and time is that it could always be increased, as the value factor changes as time passes, although the policy will become higher priced on account of your age and possible health issues that you may have developed over time.