Based on what you've described....I'd say no. You do not really NEED insurance.
Life insurance is (imo) about providing for dependents when you're gone. If you have no dependents (and your estate can afford to dispose of you), I'd suggest skipping it at this point.
Now....in your early-to-mid twenties....great time to put away into your RRSP. Whore out compounding interest as much as possible! Rather see you put $300/year into RRSP than insurance.
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