Everyone needs life insurance.
Contrary to popular belief, life insurance isn't just for parents. You need life insurance if anyone is financially dependent on you.
You've recently graduated from college.
You may have significant student loan obligations. If something were to happen to you, your loved ones would most likely be forced to shoulder that debt.
You're the parent of two small children.
You want to make sure they'll be able to keep the same lifestyle and attend college — even if you're not there to see it happen.
Your children are on their own.
But your children rely on you for support and help around the house. If you weren't there for them, your children would need extra money to pay someone to take care of things you've been managing for them.
Your spouse is depending on your income for retirement.
But you're not sure your retirement savings is enough to keep up with the rising cost of living if your paycheck stopped. Life insurance can be a smart way to fill the gap.
Like many families, you rely on two incomes to make ends meet.
You'll need life insurance on both you and your spouse. Even if your spouse stays at home, you should consider life insurance on your spouse to cover the cost of hiring someone to take care of the things your spouse generally handles.