Life insurance is of utmost importance for all individuals, businesses, communities, society and general public at large. If offers protection against loss of income and compensates the titleholders of the policy. It has other principal functions besides making cash payment on death of a life insured.Life is unpredictable. As the head of the family, everyone wants a secured life for their family members. The nightmares about your family's financial protection keep haunting you.You need life Insurance because typically the need for income continues for those who are financially dependent on you, but there is no guarantee of your ability to earn consistently and for the rest of your life.Life insurance can help you safeguard the financial needs of your family.To replace income the family would need to maintain their standard of living after the death of a wage earner.Life insurance insures your life and reduces any hardship your family may have to bear in the unfortunate event of your death.Insurance can provide an emergency cash reserve.It can provide capital to pay "last expenses" and operating capital during a family's readjustment period.to pay off a mortgage loan and other personal and business debts or to create a rent fund.To create a fund for children's education.To create a family emergency fund or a fund for a family member with special needs.