According to the Centers for Disease Control and Prevention, there were 2,596,993 deaths in the U.S. in 2015. Leading end-of-life causes included diseases of the heart, malignant neoplasms, chronic lower respiratory diseases, cerebrovascular diseases and accidents—most of which can strike at any age.

This means we can all benefit from life insurance, whether we use it to pay for our funeral expenses, as an investment vehicle, or to protect our family from financial hardship in the event of our death. Consider the following life stages and reasons to purchase this valuable form of insurance for each.

Young Adulthood

When you’re young and single, life insurance is unlikely to be a priority. You may have a career and earn a decent wage, but you probably don’t have anyone other than yourself who relies on that income. However, if your parents or grandparents have cosigned a loan for you—perhaps for college or a home purchase—you’ll want to make sure that those debts don’t become a burden to them in the event of your death. You can do this with life insurance. Bonus: your premiums will be lower if you buy your policy while you’re young and in good health.

Marriage

If you purchased life insurance as a young single, now’s the time to adjust your policy to account for your increased financial responsibility. And if you’ve yet to purchase life insurance, there’s no better time than the present. Even if your partner earns a good income and believes he or she can manage financially once you are gone, life insurance can provide the peace of mind of knowing that you’ve done everything you can to provide for his or her future.

Babies

If you have young children and no life insurance, you’re jeopardizing your family’s well-being. Whether you’re a single- or double-income couple, insuring both partners is essential. Death of a breadwinner or a domestic partner can wreak havoc on one’s finances. You can use life insurance to make sure your spouse and children can keep your home, pay off debts, afford childcare and eventually finance college educations.

Retirement

Your mortgage may be paid off, and your children grown and raising families of their own, but this doesn’t mean you should cancel your life insurance policy. Life expectancy is increasing, and the volatile economy has made it difficult for Americans to amass the wealth they need to sustain themselves in retirement. A life insurance policy will give you the freedom to tap into your home equity if you need to supplement your retirement income, knowing the proceeds can pay off the mortgage. And if you don’t have much in the way of savings or financial assets, the payout can serve as an inheritance for your family.

If you’d like to explore more reasons for purchasing life insurance at your life stage, or want to review your current policy, contact your insurance professional.