Always take into account student debt when purchasing a life insurance policy, most especially when there is a co-signer on the student loans. Paying back student loans is overwhelming enough. A person should never have to worry about their co-signer being stuck with the balance of those loans if something were to happen to you.

Most people under the age of 65 will want to have access to the most amount of money possible for their dependents if they were to suddenly and unexpectedly pass away. Term life insurance is the lowest cost solution that provides the largest payout to the people in your life that need it the most.

Stress (especially caused by financial issues) is a major contributor to the deterioration of both physical and mental health. Since financial stress plays such a big part in poor health, it is reasonable to believe that taking the uncertainty out of your dependent's wellbeing and future wellbeing is paramount. In the event of your premature death an insurance safety net can help reduce your family and coworkers stress levels and lead towards protecting their mental and physical wellbeing.

That all depends on how your beneficiary decides to use the death benefit. Term life insurance coverage is the most commonly used safety net for paying off mortgages in the event of a person's passing in the United States.