Michael graduated from college several years ago. he has a full-time job that pays him 60,000 annually. He recently bought a house and has a 100,000 mortgage. He also has a dog. He often helps his family to take care for his elderly grandma. He has accumulated some savings and plans to continue to do so. He has put maximum money allowed in his IRA. Michael has a girlfriend, Donna and he plans to start his family in a few years.

1. Does Michael need to buy life insurance?

2. If he wants to buy life insurance, what are some recommendations?