There is not one single, correct response to determining the amount of life insurance an individual may need. Typically, one should purchase life insurance amounts equivalent to approximately 15 times their current income. Lifestyle, health, and income should be taken into consideration before purchasing life insurance. While many formulas for purchasing life insurance exist, it is best to consult with a life insurance specialist to help determine the proper amount for you personally. Even though a person may not have a spouse or children to support, subsequent to death, a legacy for loved ones may still be desired. The first and most important step when determining the appropriate amount of life insurance is to come to a decision on the goal of the death benefit. Using the set goal as a guide, determine an insurance policy amount that fulfills the need.