Even if you don't have children, it's a good idea to have life insurance anytime someone else depends on your income or services for their livelihood, says CNBC personal finance expert Carmen Wong Ulrich. That means that you need enough life insurance to cover the loss of your income as well as the cost of hiring someone to do everything that you currently do from cleaning and cooking to laundry and chauffeuring the kids to practice. Watch the video to find out more about how much life insurance you really need and which products are the best for you.

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