YOU MIGHT NEED LIFE INSURANCE IF:

There's anyone in your life who depends on you

Life insurance provides them with funds to live on if you should die.

You're single or divorced

Your outstanding bills may be a burden on your parents or children.

You get married

You don't want to leave your spouse with a lot of debt on top of his or her grief.

You own a home

You don't want your loved ones to have to give up their home if they can't make the mortgage payments.

You're expecting a child, have children or are planning to adopt

You want to ensure that his or her needs will be taken care of, including education.

You're living together, but not married

In the eyes of the law in some states he or she may have no rights to your assets. However, you can name this person as your beneficiary on a life insurance policy.

You have aging parents

You'll want to know they'll be taken care of, even if you can't do it yourself.

You're a philanthropist

You can name a charity or your alma mater as your beneficiary and they'll receive continued support.

You're young and healthy

Now is the time to lock in low rates.