Life insurance may sound like something you only have to think about when you get older.. What would happen to your family if you never made it home from work today? If you were to die, would they be able to continue to live in the same house? Life insurance is a very important part of good financial planning. It does not cost much because there is a cheap life insurance that you can avail. Life insurance is very important especially if you have a big family or you have small kids that need money for schooling or to spend if in case you are gone.