Many people mistakenly believe that they don’t need to think about life insurance until they have children. This is so not true. What it one of you died tomorrow? Even with your surviving spouse’s income, would that be enough to pay off debts like the monthly mortgage or cover the rent and utility bills, credit card balances and car loans? If you’re planning to have children, you’ll want to buy life insurance now instead of waiting until pregnancy—some companies won’t issue policies to pregnant women.