You would think the answer to this question would be straight forward. One might simply conclude, a life insurance policy should be in force at the time of the insured's death, so as to pay a tax free benefit to the beneficiary(s). For many years, this was the forgone conclusion.
However, the manner in which the consumer purchases life insurance coverage today is ever changing. I find that many people simply want to have coverage for a certain period of time. Common responses are, until my children get to college, until my mortgage is paid off, or until I retire. However, this line of reasoning has flaws.
In the link below, I found an insightful article that answers this question no matter what a person's age or situation is.