Top 8 reasons to own life insurance. I remind you that "owning" is different than "having" and here's what I mean. Question: "If you lose your job or your job loses you (Toy's R Us employees for example) what will you have in place to protect your family? You "had" or used to "have" life insurance, you didn't "own" your very own policy not provided by an entity you're affiliated with. Plan accordingly. If you need help let me know. This topic is on the education side of financial planning.