Working out how much life insurance you need shouldn’t be difficult. Start by making a list of all your debts and things you currently pay out, for yourself and/or your family. This should include personal loans, credit card debts and your home mortgage. Then, consider the things you currently pay for that your family would still need if you were no longer there. This may includes items such as education costs, groceries and car insurance. After tallying up these costs, subtract the things you, or your family, would be willing to do without. The amount remaining gives you an idea of the level of life insurance cover you need.