Term life insurance is becoming a popular life insurance option for many people.  There are several reasons this type of policy is popular. People with young families can benefit from the term life insurance policy options. Some householders choose term life insurance to pay off mortgages after their death as a policy choice.. Families that are struggling financially but still wish to have the protection offered by life insurance policies are able to easily afford term life policies. Term life insurance policies can vary in length, which does make them one of the more popular types of life insurance. Term life policies are often the most effective way of getting life insurance cover.