Who should purchase life insurance?

Many people ask why they should purchase life insurance, or how they know if they need life insurance coverage at all.

While there are some people who may not need life insurance, any individual with a family to support should at least consider purchasing coverage. If you have people who rely on you, then you may need life insurance to protect them in the event of your death.

The purpose of life insurance is to provide a source of income to your survivors in the event of your untimely demise.

The proceeds from a list insurance policy can be used for any number of purposes, including paying off the mortgage on the family home, sending the kids to college and replacing lost income. Most of all life insurance provides financial security to those family members left behind.