Life insurance exists so dependents can replace your income and settle obligations if you die prematurely.
The DIME Method
Add Debt, Income replacement (years × salary), Mortgage payoff, and Education funding. Subtract liquid assets you already have.
Term vs Permanent
Term is usually enough for income replacement—lower cost, fixed period. Permanent adds cash value but higher premiums—evaluate need vs investment goals separately.
Common Mistakes
Underinsuring after a new child, relying only on employer group coverage (often not portable), and buying complex policies you do not understand.
Conclusion
Recalculate coverage after major life events. A licensed agent can quote term rates; compare multiple carriers.