Life insurance is important to have because it protects your loved ones from financial burden in the event of your death. But, you may be wondering how much life insurance you need.

Frankly, insurance can get expensive, so you don’t want to be paying for more than you need. The best way to figure out how much you need is to determine what all you want covered in the event of your death. For some people, they only want funeral expenses covered. For others, they want to leave their family a financial cushion to replace the lost income.