Do I really need life insurance?

You don't need life insurance so long as no one else is financially dependent on you. But examine this question carefully. If you have children and their financial well-being would be materially affected by your death, you probably need life insurance. If you're married but childless, you might still want coverage. The same might be true if you feel your parents will someday depend on you financially. The larger the financial load you carry, and the more people depend on you in this way, the more you need life insurance.