Life insurance can fill a wide variety of needs, including covering the finite years of a mortgage and protecting the interests of a special-needs child who will need financial support after you’re gone.
In fact, although, 70% of Americans consider life insurance a necessity for themselves, 41% have no life insurance at all, according to 2017 statistics from the industry groups Life Happens and LIMRA.
Here’s a guide to who needs life insurance
and what kind of policy likely works best in each situation.
NerdWallet’s life insurance comparison tool
can help you figure out how much coverage you need and compare rates. People who are interested in permanent life insurance should consult a financial advisor to find the right policy type.