What is life insurance, and why do I need it? Life insurance is an amount of money paid to your loved ones in the event of your death. It can pay off debts and final expenses, fund children's education, pay off a mortgage and take care of day-to-day needs for those who depend on you.

How much coverage do I need? While you can’t pinpoint exactly how much life insurance you’ll need to purchase down to the nickel if you use a strategy that takes into account your current financial situation and future needs, you can make an informed estimate. Figure out how much you need by considering a few key factors using our life insurance calculator.