Who actually needs life insurance?

You need life insurance if someone would suffer financially when you die. That's the whole test. The clearest cases: parents with children at home, a spouse who relies on your income, a co-signer on your mortgage or other debt, and business owners with partners or loans tied to them personally. You may also need it if you support aging parents or a dependent with special needs. You probably don't need it if you're single with no dependents and no co-signed debt, or if you're already financially independent with enough assets to cover any obligations you'd leave behind. The point of life insurance is income replacement and debt coverage for the people left behind — not to insure your own life for its own sake. Reassess after major events like marriage, a new baby, or buying a home at wealthserene.com/goals/protect-your-family.