Life Insurance, Do i need it? What type of policies are good? Should i wait to get other things in life done?

I’m doing my due diligence and and starting my research for life insurance! I took a break from reading to type this in hopes someone will grace my with some knowledge.

Age – 28 Male Smoker No medical issues No kids or dependents

What I THINK I know . . .

When I purchase a policy I will start to pay a monthly premium. I will acknowledge a beneficiary on the policy to receive the death benefit if I pass away. Depending on the type of policy I will be could be covered a certain number of years (10,20, or even 30 years a.k.a. Term L.I.) or for the rest of my life. (Permanent L.I.) If i do not pass away during the period of coverage of a term policy I forfeit all the premiums, To counter that the premiums are cheap compared to a permanent L.I. policy. The reason a permanent L.I.P. is more expensive is cause it pays outs the death penalty no matter when i pass away as long as i pay the premiums.

I was lead to believe that a Permanent Insurance is flexible in some ways also being a one way to leave your family a little money also only requires one medical exam and has a higher cash surrender value? Not sure what that means yet. I know there are different types of permanent policies.

What i want to know . . .

Do i need to get insurance? What companies are reputable? How can i use insurance to work around taxes or is that for certain people like a businessman? Should i save up and buy a house before i get a policy? Is there somewhere else i can seek advice about life insurance?

Anything helps. Thank you in advance.