1. 61667 POINTS
    Steve Savant
    Syndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale Arizona
    You need life insurance before a tragedy strikes to protect your family, business partners and/or charities that depend on your contributions. Most people have financial liabilities, future obligations or some charitable intent. Upon the death of the policy insured, the proceeds pass to the policy beneficiaries, generally tax free.
    Answered on August 22, 2013
  2. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    You need life insurance when you have others in your life who would be harmed financially if you were to pass away. If this is at age 20, graduating from community college with loans to be paid, or if it is at age 80, suffering from poor health and no money to pay for your funeral, that is when you need life insurance, along with scores of scenarios in between.
    Answered on August 22, 2013
  3. 4470 POINTS
    Brandon Roberts
    Owner, The Insurance Pro Blog,
    You need life insurance once you have obligations that would be unmet if you passed away.  This could include such things as providing for the financial well being of your family, ensuring the continuation of a business, or retiring debts incurred by you during your life.  Once these obligations exist, you should seriously consider purchasing life insurance. 

    Notice that several of these items could exist for one person all at once, which would further increase his or her need or life insurance.
    Answered on August 22, 2013
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