If you have dependents, you need a life insurance policy. GET ONE. Don't let your loved one lose their house or starve because you didn't prepare for them appropriately!
Check out the article above.
Consequences of no life insurance are a NO BRAINER. If the breadwinner were to pass on, how would bills be paid? The article points out that life insurance is less than the cost of a few pizzas per month, or the cost of cable for the year. There's NO EXCUSE to not buy it. Dave recommends that at a minimum, you have 10 times your annual income in life insurance. Why?
I probably actually should buy a little more insurance. The policy I have isn't accurate anymore, based on my salary. Hmmmm.....