There are two aspects of life insurance coverage: how long your policy will last, and how much it will pay out upon your passing. Your age and health may affect what coverage amounts you're eligible for, but ideally you'll select the amount that can adequately provide for your beneficiaries for the length of time they'll need support — and at a premium you can afford over time. Remember to factor in your savings, investments, and how your financial situation will change when you retire.