Yes, if you have loved ones who depend on your income, life insurance is one of the smartest financial safety nets you can have. It helps replace your income, cover debts, and secure your family’s future in case something unexpected happens. Even if you’re single, a policy can help cover final expenses and prevent financial burden on your family.

It depends on your financial goals. Many people start with one primary policy, but you can have multiple policies if your needs change such as taking a home loan, starting a business, or wanting extra coverage for your family. A mix of term life insurance and whole life insurance can also give you both affordability and long-term benefits.

Most employer-provided life insurance ends when you leave the company. You might be able to convert it into a personal policy, but it’s often limited and may cost more. That’s why having your own personal life insurance policy is important it stays with you no matter where you work.

If you only rely on company-provided life insurance, your coverage may stop and restart every time you switch jobs, leaving gaps in protection. Personal life insurance is portable and follows you everywhere, giving you uninterrupted coverage.

Both have their benefits, but they serve different purposes: