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Life insurance is important—and worth having before you really need it. But even if you’re nodding in agreement, you still might wonder, How much life insurance do I need? The sweet and simple answer is 10–12 times your annual income. Why 10–12 times? Because if you die, that amount replaces your salary and gives your family a comfortable financial cushion while they recover from their loss. It also gives them money they can invest for future income. Buying 10–12 times coverage guarantees that whatever else your family feels, they won’t feel a financial pinch when you’re gone. Let’s look at exactly how to work out your magic number. And don’t sell yourself short—you’re worth more than you think!