Life insurance is important, but it is not always a necessary expenditure. If you are single and have no children, you probably do not need life insurance. If you are married with a couple of kids in school, life insurance is may be essential.
The amount of life insurance coverage you need will depend in part on how much you earn and the lifestyle your family leads. One of the most important purposes of life insurance is to replace your salary if you were gone. The death benefit of your life insurance should provide enough income for your spouse to carry on and raise the children, and pay the bills.