Most people's life insurance coverage traces back to a number chosen years ago — a multiple of salary suggested at a previous job, or a round number that felt sufficient at the time. Life changes; policies often don't keep up.

A useful starting point is to add up what your family would actually need to cover: remaining debts like a mortgage, a number of years of household expenses, and any future costs you'd want fully funded, such as education. Then subtract what's already covered by savings, existing policies, or workplace benefits.

The gap between those two numbers is a much more grounded starting point than a generic rule of thumb. It's also worth revisiting after any major life event — a new home, a new child, a change in income — since each of these shifts the number meaningfully.

If it's been a few years since you last looked at this, it's worth ten minutes of your time. We're glad to walk through it together.