Yes. But I have a child and a wife. I've always heard at least 10 years worth of your salary as a baseline, but that number goes down as you get older and your kids get older. So at 30, it should be significantly higher than at 40, and much less at 50 when if you die, your kids are presumably grown and on their own.

I would say, find a number your spouse is comfortable with should you die. It should at least pay off all your personal debts (house, any cars, land, credit cards etc.) and it should keep your wife comfortable for several years (especially if your retirement is underfunded). If your employer offers enough, take it, it's usually a fraction of the cost of independant insurance. Use 3rd Party to get to the number you feel comfortable with. Kids take at least $200k per child just to get them to adulthood. Tack on half that same amount for college (probably twice that in 18 years). Don't forget medical expenses as you grow older (or rather your wife does).

So, figure out your income, your debt and what your spouse can survive on. Also remember it's easier to pay for insurance that you got years ago vs. a new policy you get when you are older.

Plus, do you really want to cut back on life insurance when driving 126 miles a day? <img src="/images/graemlins/smile.gif" alt="" />