Life insurance is an essential part of financial planning.
If you have people who depend on you for financial support, you need life insurance. How much life insurance you need is dependent on your specific circumstances. There are many variables in each person’s situation.
Life insurance can give your surviving family choices of how to use the benefits provided in a life insurance policy: paying for the funeral, paying off debts (medical and other), paying for living expenses, funding college education for your children and grandchildren, etc.