Why do I need life insurance?

Your insurance needs if-

The family is financially dependent on you:

If you have a family that is financially dependent on you, then you definitely need to insure yourself. The most common reason to buy life insurance to protect your family in case of any future events. The cost of life insurance with the support of your family members can help.
Debts or liabilities:

It's very important if you insured your property has taken a loan or mortgage. It does not only provide peace of mind but also a steady source of income for your family
Compulsory saving-cum-investment:  

A life insurance policy can be used as a compulsory saving-cum-investment avenue. Insurance policy can be used to fund future expenses such as child's higher education or retirement funds or even a well deserve vacation.
A business partner or a self-employed:  

This is required by the people whose business partner is higher or owned their own business. Life insurance can be a critical component for a particular business application, such as funding the purchase-sale agreement. A life insurance policy to provide cash for the purchase of a deceased owner's business interest or business can also be used to prevent liability.

Others:

RBI Bonds, insurance products, other than the only other investment products that guarantee production over a range of time - 5 years to 25 years. Insurance companies, as well as regular premium single premium investment products as well as higher earnings at investment panyaguli that a guarantor.