Trying to figure out how much Life Insurance to take out.
Age: 28
Spouse Ages: 28
Children: 1 Age 3 planning to have another soon.
Income 72K per annum spouse not working
Have mortgage protection and have checked my work they don't have any death in service benefit other than giving me access to my Pension.
How much of a lumpsum should I take out?
Is a 20 year term enough or should I plan until the youngest is out of College say 25?
Thank you in advance.
Age: 28
Spouse Ages: 28
Children: 1 Age 3 planning to have another soon.
Income 72K per annum spouse not working
Have mortgage protection and have checked my work they don't have any death in service benefit other than giving me access to my Pension.
How much of a lumpsum should I take out?
Is a 20 year term enough or should I plan until the youngest is out of College say 25?
Thank you in advance.