Consider these factors when determining how much coverage and how many years of term life insurance you should get:
Your age
Your age can be a helpful indicator of how long you'll be providing your family with an income that would need to be replaced if you passed. If your beneficiaries rely on your income, consider a policy that lasts until you plan to retire — or until you plan to have enough in savings and investments for your family to be secure without your income.
Your mortgage or other debt
A life insurance policy should last at least as many years as you plan to spend paying off your mortgage or credit card debt. This can protect your loved ones from being responsible for your debts if something happens to you.
Your children
If you have young children or plan to soon, term life insurance of 15 or 20 years or longer can offer security to your family. If something happens to you, your policy could help provide for your children until they're through college or out on their own.