If you're single and have little or no debt, you probably only need to consider the cost of final expenses in case you were to die. If you have a sizable savings account or other assets, you may not need to worry about life insurance at all.

But if you are married, especially if you have dependent children, or if you have debts such as a mortgage, car payment, or credit card balances, your family could be at serious financial risk if you should die suddenly and your income were suddenly no longer available.