My wife and I each have $2M of term life insurance. Why $2M? Because that's how much it would take for us to ensure the survivor is financially independent for life. Want to know how much life insurance you you need? Well, let me tell you.
44
48
305
116K
375
For this calculation, you need to assume you die tomorrow. While that's not likely, you're trying to figure out the financial risk that exists today. And then you're going to pay an insurance company to take that risk for you.