Life Insurance - Review your needs

You may carry life insurance, but you might not have enough to care for your survivors. Remember your survivors will need the insurance proceeds to pay for recurring expenses, (i.e. house payment) and for nonrecurring expenses (i.e. college education, medical costs, etc.) Therefore, it is better to be over-insured than under-insured. So, review the amount of life insurance you carry and consider increasing if necessary.  On the other hand, the purpose of life insurance is to protect against the loss of an earner's income that would be needed to cover family costs such as the mortgage and children's education expenses. If those cost are no longer a concern, you should reevaluate your insurance needs and possibly reduce your coverage.