C.M.
Hi!
So, I know a bit about this. I am a licensed insurance agent. I would say you NEED life insurance. YOU CANT AFFORD TO NOT HAVE INSURANCE. There are "term" policies, you purchase those and the premium is a set pricef or a certain term. Say, 10, 20, or 30 years. At the end of the term, you have the chance to "renew" coverage at a much higher premium. You can also purchase a whole life policy. These are good for your entire life, and have cash value. SO, say in a set amount of time you can borrow against your policy. These policies are more expensive, but never expire. The premium remains the same unless you borrow against it. I have, and would say that the best thing to do is get a term policy and also a whole life policy. That way, you have a much bigger amount of insurance for the nest 20 years. Then, a smaller amount for the whole life policy. Most term policies are convertable to a whole life policy too. So, hope this helps. I called a broker to buy my life insurance. They work for many companies and can shop around for you. I am not sure what state you live in, but I am in AK, and called AK USA Insurance Brokers. Also, make sure you ask about the financial stability of the company you buy with. Make sure its A+ rated. You dont want to get insurance and have the company go under!
GOOD LUCK!! Oh, and do it before your next bday. The older you are the more expensive.