Your greatest asset is your income. Therefore, it makes sense to protect it, right? The fact is, when you die, your paychecks stop. Life insurance helps ensure that your loved ones will have enough money to pay the rent/mortgage, keep up with the car payments, and pay for everyday living expenses such as gas, groceries, and utilities after you're gone.
Other ways you can protect your assets such as your property is either fire insurance and motor insurance. These can cover you from damages and loss that may occur either by accident or some peril.