Why should I own life insurance?

The primary purpose of life insurance is to provide your family (or your business or your estate) with the cash needed to ease the financial burden of your death.

Someone has said that there are two basic and necessary reasons to buy life insurance: Because you OWE someone; or because you LOVE someone.

If you OWE someone-for your last expenses, or your current debts, or your mortgage-life insurance can take care of such obligations, leaving your loved ones without added financial burdens.

If you LOVE someone, life insurance can replace the income that you are currently providing while you're alive: income that will enable a child to go to college, or enable your family to continue enjoying the standard of living you want them to have.