Over 56% of American households do not have any life insurance.  This figure is concerning as in 1960 72% of American individuals had life insurance.  In today’s world life insurance is more important to have than ever.  One question to ask yourself is if you came into a sum of money, from inheritance, keno, lottery, or any other source, how much would that sum of money need to be for you to stop working for the rest of your life?  Generally, that is also the same amount your life insurance policy should be.