I wish I had a dollar for every radio caller who has asked Daria and me through the years, "Do I need life insurance?" I wouldn't be talking to you now--I'd be in Monte Carlo on my yacht!

If you've been asking yourself the same question, here are some easy-to-use guidelines. 

You need life insurance:

1. If you're married to someone who doesn't work.
2. If your spouse works but earns a lot less.
3. If you have dependent children.
4. If you have a large mortgage.
5. If you and your spouse have a lot of debts.
6. If you have a loved one with special needs that you are supporting to help with their cost of care.

The purpose of life insurance is to protect your family and help them maintain their lifestyle if you're no longer able to provide for them. It really is that simple.

If you already have a large estate and money is not a problem, or no one is dependent on you, you probably can do without life insurance.