Term life insurance is typically needed when an individual wants to provide financial protection for their loved ones in the event of their death. It is particularly important in situations where the individual has dependents, such as young children or a spouse who relies on their income. Term life insurance can help cover expenses like mortgage payments, college tuition, and daily living costs in the event of the policyholder's passing. Additionally, it can be beneficial for individuals with outstanding debts, such as a mortgage or other loans, as it can help ensure that these financial obligations are taken care of. Furthermore, term life insurance can provide peace of mind by offering a financial safety net during the policy term. It's important to carefully consider the specific financial needs of your loved ones and the duration of financial responsibilities when determining if term life insurance is necessary for your situation.