Dying is expensive. Really. Not just because you lose the source of income this person was providing. But you have to pay for the funeral, burial, estate taxes, therapy, mourning period without working.
We normally insure things that are rare, but devastating if they happen.
As a parent, if you die, you'll be sending your kid with a lump sum under his arm to be adopted, maybe by a relative. That eases the tension on them.
If you have a life insurance as a partner in your business, you'll making sure that if one partner dies, the other will be able to buy the business.
Life insurance for your kids is meaningful, because some companies allow the kid to withdraw what was paid into it when the kid is in his twenties.