There are many things in life that the average household can live without, but life insurance should not be one of those things. The importance of life insurance increases as the number of people in a household increases.
A single person with few, if any, close relations can get by on a very little life insurance or perhaps no insurance at all. The same cannot be said for persons who have family members or other types of responsibilities.
Life insurance is a way to protect your family against possible financial trouble or even ruin, depending on your circumstances. Life insurance is also a way to relieve some of the anxiety that family members may feel as they wonder how they will get by should a breadwinner in the family pass on.
Some forms of life insurance can even be used as a means of saving money over the long term.