How Much Life Insurance Do I Need?

When it comes to figuring out how much life insurance you need, it can be hard to know where to start. There are so many factors to consider, such as how much your loved ones would need if you passed away, the amount of debt you may have accumulated, and the cost of your funeral expenses.

Thankfully, we have a formula and a tool that can help you determine how much life insurance you need! Check out this guide to learn more about life insurance needs calculators and how they can help you determine the right amount of coverage for your situation.

What is Life Insurance

Life insurance is a financial planning tool that helps provide financial security for your family if you die prematurely. The policy pays out in a lump sum, providing immediate resources for things like medical bills, funeral costs, debt, or estate taxes. Life insurance is an important part of any responsible adult’s financial plan—one that has been p