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Why Do I Need Life Insurance?



There is one simple reason that people buy life insurance - to help protect their loved ones.

Life insurance allows you to financially provide for your loved ones if you were no longer there. Chances are there may not be funds to cover items such as funeral costs, medical bills, mortgage payments, lawyer’s costs, etc. With life insurance, you can help ease financial burdens while your loved ones are going through a very difficult emotional time.

Regardless of what stage you are in life – Single, Newly Married, Have a Family, Pre-Retirement, or in Retirement - there’s always a need for life insurance. We've provided some common life stages below to show where life insurance may help cover needs and continue to provide for your loved ones after you're gone.

You can also take a few minutes to use our Life Events checklist. This is a useful tool to help you think about events that have happened to you in the past year or will happen to you within the next 12 months.



  • Plan for the future while you are healthy and insurable.
  • Cover debts that you don’t want to carry on to family members.
  • Provide financial support for aging parents or siblings.


  • Help cover daily expenses such as mortgage and utility bills.
  • Pay off debts such as credit cards or loans.
  • Provide funds for burial expenses.


  • Cover income replacement to maintain standard of living.
  • Cover costs of services provided by non-income earning spouse – childcare, cooking, etc.
  • Help provide children’s college tuition.


  • Help preserve a retirement plan.
  • Cover life insurance needs previously provided by employer.
  • Cover cost of spouse’s income.


  • Leave an inheritance to loved ones or charitable organization.
  • Cover the costs of estate taxes.
  • Replace income from a pension.

Now that you have a better understanding of why you need to purchase life insurance, we’ll help you find out how much life insurance you need.

How Much Do I Need?

Our Life Insurance Specialists are ready to talk to you about your life insurance needs. Just give us a call at 1-888-422-7020 to get started.