When Should Someone Buy Life Insurance? 
Life insurance addresses the problem of a person dyeing too soon . That is if you have people who depend on your income and should you die they would be left in a troubled situation . That is the most basic reason to buy life insurance . And the most basic kind of life insurance is Term , which only addresses that one issue - and that for only a specified term of between 10 and 30 years . Permanent and specifically Whole Life insurance also addresses the issue of inflation relative to the death benefit and even retirement income should a person live `` too long '' - that is out live their retirement savings . 