Sir Winston Churchill, former Prime Minister of the United Kingdom once said,

If I had my way I would write the word 'INSURE' upon the door of every cottage and upon the blotting book of every public man, because I am convinced for sacrifices which are inconceivably small, families and estates can be protected against catastrophes which would otherwise smash them up forever.  It is our duty to arrest the ghastly waste, not merely of human happiness, but of national health and strength, which follows when, through the death of the breadwinner, the frail boat in which the families are embarked, founders, and women and children and estates are left to struggle in the dark waters of a friendless world.

Financial protection for our families in case of our death or the death of a family member is essential. Life insurance pays a death benefit if you die while the policy is in effect. You can use the death benefit to protect against financial hardships such as loss of your income, funeral expenses, medical or nursing care expenses, debt repayments, and childcare costs after your death.