Life insurance has many purposes. Of course the specific purposes depend on the client’s needs or wants. Generally the purpose of insurance is to replace income if the insured dies prematurely. The insurance comes in as though that individual were still alive and generating income. It makes life for the family a livable experience. It gives peace of mind to the insured because he knows that if something happens to him, his family will be taken care of. Some clients simply want a policy that will cover the costs of burial expenses, debt repayment, and taxes.