Life insurance helps to pay funeral and other expenses of a person. Especially in case of accident or sudden illness. It covers payments for the policyholder and their family.
Besides covering death, many companies cover other costs including disability, unemployment, old age etc. in case of early death. It’s also important to consider what happens with your loved ones after you.
Some people may think they’re better off without any insurance. They don’t think they’ll ever need it. But it always pays off to protect from unexpected costs or putting someone else into debt after you.