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!
http://www.startribune.com/lifestyle/yourmoney/107543183.html
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.....
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