If something doesn't have genetic material, it's not alive. It's a rock or a machine or a toy or something like that. Living things are all born from their parents, and the genetic material of the parents is the information that's used for their offspring. It's part of the definition 'life' - having some genetic information that can be used and passed on to the offspring.

Genetic material, like our DNA, provides us with a blueprint for how to make a copy of us. DNA also is used to make proteins, which are the building blocks of most of our cells, tissues, and organs. If we don’t have DNA, then we can’t make protein which is used in cell-to-cell signaling, we can’t transport atoms throughout the body, and we wouldn’t have antibodies that help protect the body from foreign invaders.

Genetic material is used to create proteins, which are the chemicals that make life work. Without any genetic material, there would be no new proteins, and the life-form would die as its existing proteins would wear out or otherwise become useless. Without genetic material there would also be no ability for life to make more of itself (something that all life can do), since the genetic material also serves as the means of carrying information from parent to offspring.