You should have life insurance if you want to provide a financial benefit for someone who would suffer financially from your death. This could be a family member, a business partner, or some person to whom you owe money.
You should also have life insurance if you want to make it easier for your family to take care of your funeral and burial or cremation. Life insurance pays quickly without having to go through probate, enabling final expense bills to be paid with that one check.
You should have life insurance if you have financial liabilities that expose other people like your family or business partners. You should also have life insurance if you are searching for a more flexible and less restrictive retirement plan that allows your contributions to accumulate tax deferred. It may also provide tax free income based on purchasing the lowest cost TAMRA compliant death benefit option, non-modified endowment contract. Keep in mind that this type of contract must remain in force for the life of the insured.
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You should also have life insurance if you want to make it easier for your family to take care of your funeral and burial or cremation. Life insurance pays quickly without having to go through probate, enabling final expense bills to be paid with that one check.