The right amount depends on your mortgage, other debts, household bills, childcare costs, dependants and how long your family might need financial support. Add these likely costs, then subtract savings, existing life cover and any workplace benefits; you may also wish to allow for inflation and funeral expenses. Choosing less cover can reduce the premium, but could leave your family short if you die, while a longer policy term may cost more. CoverWise is an independent information site, so consider discussing your circumstances with an FCA-authorised adviser or provider before choosing a policy.