Life events create the need for life insurance. If you've recently purchased a home, had a child, or have experienced other major financial changes in your life, you will want to make sure that your family is protected. Whether you are single or in a relationship, life insurance is important. When you pass away, your loved ones may have to cover your funeral expenses and pay off any financial liabilities you have, such as your debts or mortgages. If you have insurance coverage, your debts will not be a burden on your family members. If someone else depends on your income for their quality of life, it’s a safe sign you may need life insurance. Commonly, life insurance is needed for homeowners, couples, parents, business owners, and more.