If the people you love rely on your income, you probably need Life insurance. They can use the cash to settle any debts and pay for things your monthly income used to cover, such as the bond/rent, school fees and food. 

Life insurance ensures your loved ones aren't burdened financially after you're gone. If you have children, family, or other people who depend on you and your income, and if you are paying off a bond or a car, or other financial debts, life insurance is a safety net to provide a bright and secure future for the people you care most about. No one is an island, so even if you are single, you are still connected to others, such as your family and close friends. Life insurance can alleviate the worry about who will pay for your funeral expenses and related administration. 

You might not need life insurance if you have already built up enough savings to provide that safety net on your own.