5 groups that really do need life insurance

Don't need life insurance? Think again
Don't need life insurance? Think again © Curt Ziegler/

If you have ever said "I do" or welcomed a bundle of joy into the world, chances are you have considered purchasing a life insurance policy. Married couples and parents are among the best candidates for coverage.

But if you are single or childless, don't automatically assume you don't need life insurance, says Stephen Rothschild, chairman of the Life and Health Insurance Foundation for Education.

"The reality is most people need life insurance," he says. "A simple rule of thumb is that if someone will suffer financially when you die, you should be covered by life insurance."

Life insurance can make sense even if you do not have dependents but simply want an additional potential source of cash, says Kristen Komer, a vice president with MetLife.

"People think of life insurance primarily to replace lost income or for a death benefit," she says. "But there are so many other ways you can use life insurance."

Following are five lifestyles that may require life insurance, even if you might not immediately think so.


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