Ask yourself this – is there someone other than yourself who is dependent on your income or salary? If your answer is yes, then you need life insurance. Should anything happen to you, your salary stops being paid. Think about the impact that will have on your family. How will they cope with monthly expenses such as bond and car repayments, groceries, school fees and medical aid? Your life insurance policy will pay out a sum of money to your nominated beneficiary/ies should you die. They can then use the money to settle debt and maintain their standard of living.