Why have it? If you have a family who depends on your paycheck for financial survival, then that is the foremost reason why you should have it. You are protecting your family's financial health after your death. The life insurance proceeds are transferred to your family tax free. The life insurance company you don't like and complain about will suddenly be loved once your family receives their check upon your death.
Your family will be able to pay death related expenses in addition to current and future bills. Life insurance allows you to invest in protection for very little cost. It is the least expensive, value added insurance available. There is no one reason for anyone to go without it. Premiums are low cost and those on a fixed budget can afford it.
Who else should have it? Anyone who is breathing. The need for life insurance is there. Someone will be burdened by the cost of your death. Having a life policy in place, even a low face amount just to cover death related expenses, is sufficient. The time to buy a life policy is now. Today is the youngest and healthiest you will be. Locking in premiums at your current age and before your next birthday, will ensure you are getting the lowest price possible.
The age of discussing death as a taboo topic is over. Procrastinating and denying own mortality is costly to everyone. By failing to prepare you a preparing to fail.
Trisha M. Pacenti RN,BSN