This depends entirely on your personal circumstances. Generally, the more money you’re insured for, the higher your premium will be. But, if you underestimate how much cover you need, your loved ones could be short of money when you’re gone. In order to determine how much life insurance cover you need, you should calculate how many debts you currently have that would need repaying such as a mortgage, credit cards or personal loans. You also need to consider how much money your partner and children would need in order to maintain the lifestyle they currently live without your income. Don’t forget you won’t be in the equation, so you may have to account for additional expenses. For example, if you work part-time, or don’t work at all and normally look after the children, you may have to factor in costs for childcare. Also, if your partner normally works full time, they may have to work fewer hours in the event of your death in order to be there more for your children.