How Much Life Insurance Do I Need With Kids? 
At first I understood the question as Peggy did , then I saw Bob 's answer ... So I 'll address both concepts . Life insurance FOR children is a great idea and a great GIFT ! That is WHole Life - not Term . You can start a policy on a baby for $ 50,000 very inexpensively and by the time they are adult , the policy could well have doubled in face value and grown several thousands of dollars in cash value . That cash could be used for college , to buy a car , etc. . Then the policy could be turned over to the now adult child to continue as protection for their future family , etc. . The amount of Life insurance needed for yourself when you have children has many variables to consider when determining how much is enough . I always recommend to buy as much as you can afford . Again , Whole Life . There are tax advantages , cash value and other benefits that only come with Whole Life . If you also have a spouse in addition to the children you 'll want to consider how much it would take to replace your income . Is there a mortgage ? Do you want to pay for college for your kids ? These things and more should be considered when determining how much is needed . You 're best bet is to consult with an experienced Insurance Adviser to figure out what your needs are , and then to help you find the best company and policy to meet those needs . 