Who is most likely to need a life insurance policy?

The most suitable choice is individuals providing income support to others. This is because life insurance serves to protect those who rely on a person's income in the event of their untimely death. If someone is contributing financially to a household, whether it be for children, a spouse, or even extended family members, their absence could create significant financial hardship for those left behind. Life insurance provides a financial safety net, ensuring that loved ones can maintain their standard of living and cover essential expenses like mortgage payments, education costs, or daily living expenses.

Conversely, individuals with no dependents may not need life insurance since there would be no financial impact on others in their absence. People over the age of 65 might already have different financial considerations, and their needs for life insurance can vary significantly based on retirement income and estate planning. Additionally, while individuals saving for retirement may have financial priorities focused on ensuring their own future stability, life insurance may not be a primary concern unless they are providing support to others.