Do You Actually Need Life Insurance?

Life insurance is not a one-size-fits-all product. While most adults need it, some do not.

Ask Yourself These Questions

If you answer "Yes" to any of these, you likely need life insurance.

Do you have a spouse/partner?
- If you died, would they struggle to pay rent, mortgage, or bills?
Do you have young children?
- Who would pay for childcare, food, clothing, and education?
Do you have debt?
- Would your debts (mortgage, student loans, car loans) be passed on to someone else or reduce your estate?
Do you want to leave a legacy?
- Do you want to leave money to a charity or family member?
Do you have shared business interests?
- Do you need to fund a buy/sell agreement?

You might NOT need life insurance if:

You are single with no dependents: No one relies on your income.
You clearly have enough assets: You are "self-insured" (e.g., you have millions in liquid savings that could cover all potential expenses).
Your children are grown and independent: They do not rely on your income.