Although none of us plan to die anytime soon, there are big benefits to having a life insurance plan. This is especially true for those who have a family, and are the primary breadwinner. Most plans are not terribly expensive and the benefits that your family receive are often necessary.
There are several logical reasons that make sense for having a life insurance plan. Very few people are debt free. The problem with dying unexpectedly is that you do not have the chance to finish paying off debt. Without life insurance, the debt can fall onto your family. The payment from the life insurance can help cover any unpaid debt or money owed.
Related to the inability to pay off debts, any form of future earnings are gone when you die. Life insurance policies can be adjusted so that the people accessing the money have limitations. For example, a college fund for children may have been set up to receive a large sum of money to supplement those future earnings.
Lastly, the costs incurred trying to keep you alive may have been substantial. This is a very common case and often times can severely affect your families future financial situation. With a life insurance plan, your family benefits from having money available to cover these costs and the funeral costs.
From a non-financial perspective, losing someone is a terrible thing and the grieving process can take a while for some people. This often means missing work for an extended amount of time. A portion of the payout can allow your family to take as much time as they need until they readjust back to life.
These are just a few benefits to consider and good reasons to buy life insurance.