Actually, there are many different situations which may give rise to a need for life insurance protection, whether you have a fmaily or not.
For example, some of the leading reasons to buy a life insurance plan may include the following:
- To pay for your final expenses - Burial and Funeral costs.
- To replace your income for your family.
- To pay for your child's college education.
- To provide for your family's monthly living expenses.
- To pay off your home mortgage loan.
- To pay off your outstanding credit card debt.
- To provide for your spouse or partner's retirement.
- To leave money to a charitable organization.
- To leave money to pay estate taxes.
- To create a legacy by leaving money to your heirs.
Learn more about buying life insurance coverage.