Top 5 reasons why you would want to be covered for your Death.

1. You have outstanding liabilities such as mortgage: 
   this ensures that your family can continue to stay in their place of choice even if you are no longer around. If you pass on prematurely, your spouse would likely take on the responsibility of paying for all the entire household expense- having the burden of mortgage repayment lifted off will greatly reduce the financial stress.
   If the property is simply an investment property, then the payout from the insurance would simply serve to give your family the choice to choose whenthey would like to sell the property, such as to wait for a better price.
2. You have dependents:
   if you have kids or elderly parents, odds are you are taking care for their needs now and would want to continue taking care of them regardless. Your earning capability is what sustain their lifestyle and which allows them to live, free from financial worries. Having an insurance plan that covers for death serves to replace the income that you are no longer able to earn.
3. You want to leave a legacy:
   fundamentally, insurance serves to protect wealth. However, it is also an effective vehicle used in estate creation and planning. By clever usage, insurance can ensure fair distribution of wealth to the next generation and it can also protect your estate against creditors. Also, If you are heavily invested in the market (either via business/property/stocks) , the presence of insurance also smooths out volatility of the market and ensure a more stable estate.
4. You want to continue your support for a cause (Gifting):
   while this is not common in Singapore (yet), there are people who purchase insurance to support a cause/charity that they believe in. You may not have hundreds of thousands now, but you can potentially give a lot more through this.
5. You are a business owner:
   imagine you’re a business owner who plays a major role in your company (key man)… A premature demise will likely cause disruption to your firm and partners as they scramble to look for your replacement. Projects could be delayed and business commitments unfulfilled. The insurance payout will then help to reduce the financial impact of such a situation.
   Business partners also purchase insurance on each other’s lives. This would allow for buyouts in the event that the beneficiaries have no interest in the business. If you are a business owner, do keep in mind to review your buy-sell agreement and keyman insurance.

and the million dollar question for you to ponder over.. Do you need the death coverage now? and would you need and want it in the future?