Wel, if you have anyone who relies on you for any means of financial support, your support would be missed if you were no longer there to provide it.
That's where life insurance can help.
People with a Need for Life Insurance:
- You have Student Loans
- You have an Auto Loan
- You have a Mortgage Loan
- Engaged
- Married
- Wife is Pregnant
- Have Children
- Own a Business
These are just a few reasons you may want to have life insurance to help provide financial security for those you leave behind.
The person or persons you name as beneficiary of your life insurance policy can use the proceeds for any purpose, which may include to replace your income, pay for your final expenses, pay for living expenses, pay for child's college education, etc.
Learn about term life insurance and permanent life insurance to better understand how the two basic types of life insurance plans work.