Survivor protection: if the main earner, or the spouse who takes care of the children, dies, the family's finances take a big hit. The death benefit replaces that support.

Estate creation: a young family has not built savings yet. Life insurance creates an immediate estate: a large sum of cash is available the moment the insured dies.

Cash accumulation: permanent policies build cash value that the owner can use while living, a living benefit.

Liquidity: cash value (whole life, UL, IUL, VUL) can be borrowed or withdrawn quickly in an emergency, without selling other assets.

Estate conservation: death proceeds can pay estate taxes and settlement costs, so heirs do not have to sell assets.