Immediate need, protection. What do you stand to lose? Protection from that impending (based on circumstances) loss is a job for insurance.
Something not typically thought of is insurance to create a legacy.
Many of us have charities that we’re very passionate about. Things like animals, kids, parks, a cure for diseases and on and on. You can be a major contributor for very little money now and upon your passing, a very large contribution later.
For your specific benefits, please consult your CPA or Tax Attorney.
Insurance is just one more solution for a myriad of life’s issues.