Life insurance provides financial protection to your beneficiaries if you die.
Here's why you might need life insurance:1. Income Replacement:

If others depend on your income (e.g., spouse, children, aging parents), life insurance can help replace that lost income and maintain their standard of living. it can cover daily living expenses, mortgage payments, and future needs like education.

2. Debt Coverage:

Life insurance can help pay off outstanding debts like mortgages, car loans, and student loans, preventing these burdens from falling on your loved ones. It can also help cover co-signed debts, protecting the co-signer from financial strain.

3. Final Expenses:

Funerals and other end-of-life expenses can be costtly. Life insurance can help your family cover these costs without depleting their savings.

4. Inheritance and Legacy Planning:

Life insurance can be a way to leave a financial inheritance for your loved ones. It can also be used to support charitable causes.

5. Business Protection:

If you own a business, life insurance can help ensure its continuity if you die, providing funds to buy out your share or hire a replacement.

Do you need life insurance?Consider these questions to determine if you need life insurance:

Would anyone suffer financially if you died?Do you have debts that would burden your loved ones?Do you have dependents who rely on your income?

If you answered yes to any of these questions, life insurance might be a good idea to protect your loved ones financially.