Is Life Insurance Required? 
Here is the legal angle : Life insurance is not required by federal or state law . The government leaves it up to the citizenry to take care of our families , business , and charities . Good thing . We dont need more regulation or taxation . However : Life insurance is required by some legal contracts . Lenders may make a policy mandatory before closing on a business loan . Investors may call for a policy before injecting money into a business . Divorce decrees typically do obligate the participants to carry coverage . An additional point : I personally believe that life insurance is a moral obligation . You have a spouse and children financially dependent on you . You have the employees of your business dependent on you . If you have made a commitment to certain causes , you have those communal and social organizations dependent on you . Why let them down ? Life insurance lets the show go on for these folks . 