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While it is not necessary for a single person with no dependents to purchase a life insurance policy, the family of an individual who is the sole bread winner is adversely affected in the event of his or her death. This is especially important when the family consists of children, disabled and elderly persons,  who are unable to get a conventional job. By purchasing a  life insurance policy , an individual can ensure that the lifestyle of his or her dependents is not adversely affected in future.

If the children in the family are growing up, the parents will have to support them, but as they grow older and get jobs, they become financial independent. So depending on how much premium he or she is willing to pay, an individual can purchase either a term life insurance policy or a permanent life insurance policy. The premium to be paid for a term life insurance policy is much lower for a short term policy, since the probability of an insurance claim being filed are lower. The health, weight, lifestyle, work and hobbies also determine the insurance premium to be paid.

Since life insurance premium payments are a significant amount which have to be paid every year, it is advisable to get life insurance quotes from multiple insurance companies before selecting the best option. In addition to considering the premium amount to be paid annually, it is also important to check the financial stability of the company in the current economic conditions. To get a quote, basic information like date of birth, gender,height and weight have to be provided.