Life insurance for your spouse or partner. Consider your shared financial and non-financial responsibilities.  If your partner or spouse is an income earner in your household, Life insurance should be considered to replace their lost income. Even if they are not an income earner, you should consider the invaluable services they provide like household management, childcare, or even cooking. Consider what debt you share—whether that be a mortgage, student loan debt, or even credit card debt.  Life insurance can provide funds to manage these balances.

Life insurance for your children. Covering your children at an early age may help secure affordable premiums and protect their insurability. We cannot predict what health conditions may afflict our children as they age, so securing coverage early ensures they are covered should health issues arise later. Once they age out of Children’s Life insurance, they may even be able to continue coverage with little to no underwriting. Ultimately, if the worst-case scenario were to happen, Life insurance benefits can be used to help cover funeral or other expenses, such as student loans.

Life insurance for your parents. If your parents help with household expenses, you may want to consider coverage for them. And, if these same parents also contribute to the care of your children, that’s even more reason to make sure they’re insured.  At the very least, consider some insurance for your parents’ final expenses. The median cost of a funeral today is $8,300.¹

¹ Statistics. National Funeral Directors Association. nfda.org/news/statistics. Last updated September 29, 2025.