To determine how much Life Insurance you should have, start by tallying up your assets. What is your house worth? How much money is your bank account? Do you have any financial assets that will be cashed out by your heirs?
Once you have calculated your assets, determine how much debt will need to be repaid? Is there a mortgage on your house? Is there a lease on your car? What expenses will your loved ones need to pay in order to retain the assets you have acquired?
Finally, consider your age. If something were to happen to you tomorrow, how much would your loved ones need to continue the life that you have envisioned for them?
Consideration of those 3 things will help you come up with a figure to ensure that your family will continue to live the life that you envisioned for them even when you're not able to be with them.