There are several reasons. The main reason is that it is a protection for your family. If you died today, who would pay your outstanding medical bills? Who would pay your final expenses? How will your family be able to continue living where they are now until they can get adjusted to your lost income? I have seen the power of life insurance in my over 30 years in the business. Life insurance can make a difference of your child going to college, of your wife being forced to work in a low paying job or worse going on welfare. I have seen the face of a young widow with three children when she was given here life insurance check and she realized that they would be able to stay in their home. The reason you buy life insurance is because you love somebody enough that you want to take care of them, even after you are gone!
Another reason is that it can protect your business if you own one. It can help keep key employees.
Are there people in your personal life or business associates that would suffer economically at your demise? Are you in a high tax bracket and are considering tax advantaged products? Do you want to make a difference in the lives of your children, grandchildren and charities? If you answered yes to any of these questions, you need life insurance.
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Another reason is that it can protect your business if you own one. It can help keep key employees.