How Much Should I Spend On Life Insurance? 
You should actually be more focused on the amount needed and not how much you should spend . The amount of life insurance should be first calculated to cover final expense , paying off debt -LRB- credit cards , loans , etc. -RRB- , income replacement , and lastly , providing money for college for the kids -LRB- if desired -RRB- . This can uncover a very large face amount and but will be quite affordable to you through the purchase of low-cost level term protection in the terms of 10 , 15 , 20 , or 30 years . One thing to remember is if budget is a concern it is better to cut the term then to cut the face amount of the policy . 