Who Should Have Life Insurance? 
Everybody ! Just about everyone is going to need life insurance at some point in their lives.When you 're a child , many parents look into buying a small whole life policy with future increase option riders -LRB- periodic allowance to increase the face amount of the policy in their adult years - generally this can be done 8 times beginning at age 25 -RRB- as there is no medical exam , given their age . When you 're an adult , you 'll likely have a mortgage for a house , loans for cars , credit card debt , medical bills , burial expenses , etc. , that you would like to have paid off in the event of your death so your family does n't suffer financially due to the lost income . Another common use is income replacement so your family can maintain their current lifestyle rather than having to make dramatic changes . Many people may also buy a life insurance policy for estate planning purposes . If you 're looking to buy life insurance , consult with an experienced life insurance broker who can help you determine how much coverage is suitable to meet your needs and budget . I hope the information is helpful - please feel free to contact me for help and if you have any other questions . Thanks very much . 