How Much Life Insurance Do I Need?

If you're shopping for life insurance you may be wondering how much life insurance coverage you need to protect your loved ones.

The right amount for you will depend on your personal situation. So, you'll want to ask yourself, what do I want my life insurance to accomplish? What are your goals?

Many people buy life insurance to replace their income, pay off their debt including a mortgage, pay for their funeral and burial costs, provide for their surviving family's living expenses, provide for their spouse's retirement, or to leave an interitance for their children or grandchildren.

When deciding how much life insurance to buy you'll want to consider your assets, debt, future financial obligations, and the goals you have for your family like your kids going to college, etc.

One way to accurately determine your life insurance needs is to use a life insurance calculator which asks you some questions and gives you an instant estimate of your life insurance needs.