How much life insurance you need is an important question that must be answered before purchasing a life insurance policy. Purchasing a life insurance policy that is too small is of little help to your family members who are left behind when you are gone. If a life insurance policy is too small it might not even cover burial costs.
Determining how much life insurance you need to purchase is a complex process. It requires looking at your health and how long you expect to live. This is important because it gives you an idea of how much of your mortgage and other bills will be left for your family to handle.