Everyone dies one way or another. The only question is when will one die. It is as sure as the rising sun. Death is inevitable. Life insurance is a way to cover the financial loss of the dependents when the insured dies. This is especially true if the insured is the bread winner, hence, he or she has people depending financially on him or her. Losing a loved one is already depressing. Losing the financial pillar need not be, though. That is what life insurance is all about.

You may have bought a plan already. How can you know it is enough (not lacking nor too much)?

Here is a logical formula: The face amount (the lump sum money your dependents will receive), when stored in a bank, the interest thereof monthly should be equivalent to the take home pay or the usual income you (as the insured) bring to your dependents. So if your dependents are enjoying $2000 a month, the interest of the lump sum insurance should be around that figure also.

That also means that as the years go by and your income upgrades, you also have to upgrade your insurance policy to keep up with the demand. While it is ok to have more than enough, if you are merely making ends meet, it is best to just have enough. Go ahead inquire for a life insurance quote for yourself.