: To cover funeral and burial costs (median cost ~$8,300) without burdening heirs. Buying Life Insurance For Someone Else | John Hancock
: To cover the significant cost of replacing services like childcare, cooking, and household management .
: To ensure continued care and financial stability for elderly dependents.
Life insurance is primarily for anyone whose death would cause a for others. If your income or services (like childcare) support a spouse, children, or aging parents, or if you have shared debts, you should likely have a policy. Who Should Buy Life Insurance
: To protect parents or partners from becoming solely responsible for co-signed private student loans or car notes.
: To replace lost income and cover future costs like college tuition or childcare.
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