There is no universal number, but there is a sensible method. Start with the income your household would need replaced and for how many years. Add outstanding debts, then future costs such as education and final expenses. Finally subtract what you already have: existing cover, savings and any other income.
The result is a rough gap. It ignores inflation, growth and tax, so treat it as a starting point and test it against your budget. Try the estimator on our Tools page, read more on life insurance, or book a consultation to go through your own numbers.
