Samantha just got eligible for benefits at her new job. She is being offered life insurance, but she is single and has no dependents. She has $20k in student loans and no other debts. Should she get insurance? No. Life insurance should only be purchased if you have dependents like young children. If she were married with young children, the best option would be term life insurance which is cost effective.
Never purchase Whole Life Insurance because it offers no value and is super expensive. In other words, a scam. Term life insurance is the way to go. Who should consider term life? If you have dependents like young children, you should invest in term life insurance and only pay premiums until kids are 25 years old.