A. Whether you need insurance or not really relies on your financial strength and goals. If you have a few million dollars in liquid assets you probably don't need, but want insurance, such as Whole Life or other types of Cash Value life insurance, just like millions of other wealthy people do, they are the biggest buyers of WL insurance, because they see the value in WL.
On the other hand, if you are not rich, you have even more reasons to need a life insurance so your loved ones will not suffer if you die in an accident.
So the answer to your question is, you do need life insurance, regardless you are rich or poor. There are many different kinds of life insurance products, you can consult with a life insurance professional, preferably someone who is not tied to just one provider and can help you determine the best product from the best providers out there.
Please feel free to contact us at PFwise.com if you have any questions.