If you think you don’t need life insurance, you’re right — technically, at least. You don’t purchase life insurance for yourself. You purchase it for the loved ones you leave behind.

Life insurance is one of the most selfless gifts you can give to the people you would leave behind if you pass away.

Life insurance is not as complicated or expensive as many people may think. So rather than view it as such, consider what it could mean to your loved ones someday if they lost you — and think of it instead as a potentially happy ending to a difficult situation.

If you’re putting off buying life insurance, here are a couple a few reasons to stop procrastinating.

1.    Protect your family from financial hardship

Short-term family needs

Upon your death, would your spouse or partner be able to pay the rent? Afford the bills? How about pay for funeral costs, which can average between $7,000 and $10,000?

At a time of great emotional stress, financial concerns can pile on — especially if your loved ones are forced to move, re-enter the workforce or make other significant lifestyle changes.

Would you leave behind significant credit card debt or student loans? If you’re young and your parents cosigned on your loans, they may be liable for your debt. If your loan includes an acceleration clause, your parents may have to pay off the loan immediately.

Life insurance can help keep your family members from having to tackle large financial issues when they may be least equipped to do so.

Long-term family needs

Your family can feel the economic impact of your loss well into the future.

Sometimes family members must make major changes that create additional expenses, such as a non-working spouse returning to the workforce and needing to pay for daycare. Life insurance proceeds can help cover those new expenses.

If you have children, life insurance can help provide stability and normalcy in their lives — for example, remaining in their school district, participating in sports, having the ability to go to college or pursue other dreams.

Perhaps your family includes a child, sibling or parent who is disabled and will require lifelong assistance and financial support. Life insurance can help ensure the continuity of their care.

2.     Life insurance can help you leave a legacy

When you purchase life insurance, you choose at least one beneficiary — the people or entities that would receive a benefit from your policy.

In addition to naming family members as beneficiaries, some people choose to name their church, favorite charity or nonprofit organizations that supports causes they care about.

In some cases, life insurance can enable you to give in death more than you might have been able to donate to the cause during your lifetime.