Three insurances people need are life, auto, and homeowner's insurance.
If people own a home, they have to have homeowners insurance. If they own a car, they have to have car insurance. This is part of the law. Nobody is going to lend you the money if you are not going to insure it. I think you have to buy life insurance, that is always number one. When you are talking about doing a financial plan for somebody, many people say, I want to put $100 a month into a mutual fund. My first response is, "Life insurance is more important, because a 30 year plan doesn't help you if you die in three days."
have seen people who have left their families destitute. In fact, I had one about six months ago where a husband died and the couple had just adopted a baby. She lost the house within a month, because she didn't work outside the home. The mortgage company doesn't care. They just see it as "we didn't get your payment, so you're kicked out". Life insurance is definitely the number one thing that needs to be purchased, and it can be done so cheap, $12, $15 and $20 a month. Depending on the person, you can get hundreds of thousands of dollars of coverage. The most important thing is to have something when you need it versus what kind.