Little girl with her hand on her chin, thinking, symbolizing the question, should I get life insurance?

“Should I get life insurance?” It’s no surprise that our answer is yes! We’ll go over the benefits of owning life insurance, from the peace of mind it brings to the long-range financial planning you can do with certain types of cash value coverage.

➡️ Rather talk to a real person about life insurance? We’d love to help! Call us at (800) 823-4852 or click the button below to start with a free term life quote!

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Reasons to Own Life Insurance

You might be surprised how many reasons there are to own life insurance. If you’re wondering, “Should I get life insurance?”, see how many of the scenarios below resonate with you:

Financial Security

Father and daughter eating ice cream together
  • Someone depends on you financially. It might be a spouse or partner, children, or an elderly parent – but if someone depends on you to pay for their housing, food, medical care, and other basic needs, you should get life insurance. If anything were to happen to you, the income-tax-free death benefit could meet their needs while they adjust to life without you.
  • You have debt. Who would that debt fall on if you passed away? Did anyone co-sign with you? If you don’t like the idea of burdening someone else with your debt after you’re gone, life insurance is a great solution.
  • You don’t want to burden your loved ones with paying for your funeral and burial. The average cost of a funeral with a viewing and burial is $7,848, according to the National Funeral Directors Association.* If you don’t leave any money behind, your loved ones will have to manage with whatever they can afford. Many of our clients don’t want to add to their family’s worries during a time of grieving, and opt for a small policy to cover final burial and medical expenses.

Retirement & Financial Planning

Happy retired couple spending time together in the park
  • You want an asset that can provide supplemental retirement income. Cash value life insurance covers you for your entire life, and grows cash value you can pull from later in life to use for anything you like, including supplemental retirement income. There is no income tax liability unless you withdraw more cash than you’ve paid into the policy over the years.
  • You want to be your own banker. One additional benefit of cash value is that you can borrow against it. You can take a private loan out with your insurer for a low interest rate that’s often cancelled out by the continued interest your cash value earns. The loan will never be visible on your credit report, and you technically don’t have to pay it back (although it will then be deducted from the death benefit your loved ones receive). Some very famous names in history have used their cash value life insurance to finance their businesses, including Walt Disney and Ray Kroc, the founder of McDonald’s.
  • You want a hedge against more volatile elements of your financial portfolio. Different types of permanent life insurance grow cash value in different ways. Whole life, for example, comes with a locked-in interest rate and guaranteed cash value growth. Some of our clients like the guaranteed growth of this stable financial asset, since it can function as a hedge against more volatile investments like stocks and even mutual funds.

Legacy Planning & Wealth Transfer

Mom and two kids holding a gift box
  • You want to create an inheritance for your loved ones. Even if you haven’t saved a million dollars, you can still leave that amount to your loved ones with life insurance. Life is only getting harder and more expensive. Some of our older clients want to do everything they can to give their kids and grandkids a leg up for the future. Leaving them a 100% income-tax-free life insurance death benefit is one fantastic way to do that. If you’re asking, “Should I get life insurance?” and thinking the answer is no because you don’t need it, consider your loved ones and ask yourself if they might need that money.
  • You want to leave something to charity or your alma mater. Want to leave a lasting legacy? You can name a charity or your alma mater as the beneficiary on your life insurance policy. That cash can make a huge difference in the lives of others – and it’s all thanks to your generosity. Life insurance is a great way to multiply the impact of your giving.
  • You want to leave money to your loved ones without the hassle of probate. If you leave money to your loved ones via your will, that will must go through probate. During that process, the will could be challenged by people who were left out, or by creditors who must take preference over your loved ones. A judge will have the final say over whether your will can be carried out as you intended. But life insurance doesn’t have to go through probate. It cannot be challenged, or handed over to creditors instead of your named beneficiary(ies). It’s a faster, cleaner, easier way to leave money to the people you love most.

➡️ Rather talk to a real person about what life insurance can do for you? We’d love to help! Call us at (800) 823-4852 or click the button below to start with a free term life quote!

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Should I Get Life Insurance?


Mom, dad and daughter are cooking together in the kitchen, as the dad kisses the mom on the forehead

Even if it’s a small policy intended to cover your final medical and burial expenses, life insurance is a final gift your loved ones will appreciate.

We like to say that the only people who buy life insurance are people of character who love someone more than money.

If their happiness means more to you than the cost of a meal in a restaurant per month, life insurance is a great way to show them how much you care. It’s not necessarily about a million-dollar policy. It’s about giving them the gift of a little financial security during a rough time.

➡️ Rather talk to a real person about your family’s insurance needs? We’d love to help! Call us at (800) 823-4852 or click the button below to start with a free term life quote!

Get a Free Quote

How Do I Get Started?

The first step is free and easy – it starts when you get a quote here on Or, if you’re not sure what you want, you can call us at (800) 823-4852 and we’ll help you figure out which type of coverage is right for you, and how much you may need.

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  • On a budget? Shop for the most affordable type of coverage, term life. All of our quoters will give you fast, accurate quotes to give you an idea of what a policy would cost.
  • Want cash value and lifelong coverage? Shop for one of the many types of cash value coverage: whole life, universal life, or variable life. It’s easiest to call us for these quotes, so we can help you figure out which type of cash value coverage would work best for you.

➡️ Rather talk to a real person about your family’s insurance needs? We get it. Let our licensed insurance advisors help you answer the question “Should I get life insurance?” over the phone. Call us at (800) 823-4852 or click the button below to start with a free term life quote!

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*”Statistics,”, accessed 10/25/23