Who Should Buy Life - Insurance

: To provide funds so survivors aren't forced to sell or face foreclosure .

: To cover funeral and burial costs (median cost ~$8,300) without burdening heirs. Buying Life Insurance For Someone Else | John Hancock

Life insurance is primarily for anyone whose death would cause a for others. If your income or services (like childcare) support a spouse, children, or aging parents, or if you have shared debts, you should likely have a policy. Who Should Buy Life Insurance

: To fund buy-sell agreements or protect the company if a "key person" dies.

: To replace lost income and cover future costs like college tuition or childcare.

: To ensure continued care and financial stability for elderly dependents.

: To ensure a spouse or partner can maintain their standard of living and pay daily expenses.