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Who Needs Life Insurance?
If people in your life rely on you financially, life insurance can help support them when you’re gone.
Do I need life insurance?
The quickest way to know whether you need life insurance is to ask yourself one question: Would your death have a financial impact on the people in your life?
If the answer is yes, then you may want to consider life insurance.
Life insurance beneficiaries — who could be your spouse or dependents, for example — can use the money to cover their financial needs, whether that’s paying household expenses or covering debts.
Check out these insurance companies that offer term life insurance
Who needs life insurance?
Who doesn't need life insurance?
What type of life insurance do I need?
Term life insurance
Permanent life insurance
There are some situations in which permanent life insurance makes more sense, particularly if you want the policy to pay out regardless of when you die. Types of permanent policies include whole life and universal life. Whole life insurance is the most common type of permanent coverage, offering fixed premiums and guaranteed cash value growth. Universal life insurance is more flexible, offering adjustable premiums and death benefits.
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