I am in the process of reviewing our (wife and I) life assurance, taking into account debt, death in service benefits etc. Mid 30s, young children. I read this on the Journal http://www.thejournal.ie/readme/8-financial-rules-of-thumb-1270162-Jan2014/ Rule of thumb is 10 times your annual salary if you are in your 30s with young children. If you’re in your 40s when children might be a little older, makes it 7 times your annual salary, and, finally, 5 times your annual salary if in your 50s 1. I appreciate that you can never have too much life assurance but does this seem excessive? 2. Does it make sense to have separate mortgage protection (to cover reducing balance) & life assurance or is it best value to combine into one policy? 3. Taking out a 'higher protection' long term 'term life' policy as this stage arguably means we would be over insured in 15 years time based on above rules of thumb. Would it be reasonable to take out a 25 year policy now and review in 10 years time? Or best to take out a 10 year policy with a conversion option? Thanks.