Life insurance is not like auto insurance. The government doesn't make you take out a policy. That said, if you have children or other dependants who would suffer financially if you died, it is a good idea to have life insurance. A life insurance policy is designed to ease the financial burden of those who depend on the income received by the person who holds the policy. But if you have no dependents, there is no pressing reason for you to spend money on life insurance.
Life insurance is a contract between an insurance company and the person holding the policy.
In the contract, the company agrees to pay a specified amount in the event of the person holding the policy. The contract specifies who will collect the money. This person is known as the beneficiary. If you decide you want insurance, it is important to know how much you need. You can figure this out yourself or with the help of a trained life insurance agent.