The Foundation of Financial Planning.
The two main events that you need to consider insuring for are death and long-term illness.
Insurance underpins all financial planning. Without it, any savings that you have built up may be wiped out if you suffer a long term illness.
Your family may be left in difficult financial circumstances if you do not have any or insufficient life cover in place in the event of your death. They could even become homeless if you have not provided means for re-paying a mortgage which relies on your income.