When Do You Need Term Life Insurance? 
Term life insurance is generally purchased to protect temporary economic liabilities . Term life insurance should be purchased at the first life event , where others would suffer economic loss because of your death . The life event could be protecting your spouse from mortgage payments which are predicated on your earning ability . Perhaps a young entrepreneurs starting up a business with partners where the business needs to secure a bank loan and the banking institution needs to protect the lives of the business owners . If someone will suffer economic loss because of your death , its time to purchase term life insurance . 