Taking away financial stress
The death of a family member can be an overwhelming experience and worrying about how things are going to be paid for is the last thing you need at a time like this. Life insurance may not be able to alleviate the pain, but it can certainly provide peace of mind when it comes to the practical money matters.
Paying off debts and loans
If you were to die tomorrow, who would pay your outstanding debts? Life insurance can be used as protection to help ensure your family or friends don't have to pick up the bill.
Protect your home
Life insurance can act as a form of mortgage protection. If you die unexpectedly, your family can pay off any outstanding mortgage balance and stay in the home you shared.