Frequently, some or all of these proceeds will be used for paying off large debt obligations — such as a home mortgage — and / or for paying ongoing living expenses. (chooseterm.com)
This can include the payoff of massive debts — including a mortgage balance — and the payment of ongoing living expenses. (insurancescored.com)
It can help by providing a cash death benefit to pay off large debts and being able to pay for ongoing living expenses, in a case of the unexpected. (termlife-insurance.com)