Do I need life insurance?

Life insurance is something that I have been thinking about more and more. You can get life insurance for as little as $1 for the first month and then as little as just over three dollars a month depending on age. I need to look into what exactly would be covered in that and see if it would be a good thing for me to get. I know that you can even get life insurance for kids for an inexpensive price. I guess I just have never really paid attention to what life insurance does, but if I want to start traveling more I should look into it, it might help my parents if something happened to me, huh?