Married couples without children really do not need life insurance if both spouses are capable of supporting themselves and have a manageable debt load. Also, in the case of a homemaker not employed outside the home, adequate life insurance could provide income for the rest of her life. People who are single with dependents are most likely to need life insurance. Support available from an ex-spouse must be considered when children are involved. Children generally do not need life insurance.
Life insurance is unnecessary for children because no one is dependent on their income.
Insurance agents may recommend a small policy to cover funeral expenses, but it is better to buy a policy with higher coverage for the family adult wage earner. College students and young single working people are often approached to purchase life insurance. Some policies may actually be a contract for a loan to pay for the insurance until the student is employed. However, this may not be the best option to take. Life insurance needs at this stage are low or nonexistent.