Why do people get life insurance? What does it pay for?

Obviously this is a subjective question, but here are some of the main reasons people get life insurance:

1. To pay off the house

2. Get rid of any outstanding debt from credit cards, car loans, student loans, etc

3. Paying for college

4. Income replacement

5. Leaving a legacy

No matter what the reason, if you have people that depend on you, life insurance is a MUST HAVE! 

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