To determine if you need life insurance consider these factors:

1. Marital status:  Do you have a spouse who depends on your income?
2. Dependents:  How many dependents do you have that are counting on you for support?
3. Debts:  Do you have any debts that will need to be paid off upon your death?
4. Parents:  Do your parents rely on your financial support?
5. Taxable estate:  Will your heirs need cash to pay your estate taxes?  Life insurance proceeds can be used to fulfill this obligation.
6. Charity:  Do you want to leave money to a charity, church, or other non-profit?  Proceeds from a life insurance policy are a great way to do so.