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[quote=Anonymous][quote=Anonymous]DH is 44, has great life insurance through federal employment. I'm 47, self-employed, and don't have any. We have assets ($2M house with $400K mortgage, brokerage accounts worth $600K, ~800K in TSPs and IRAs, good 529s for the kids. Kids are 6, 10, 13.  [/quote]

Both of you should get 20 year policies in the open market.  Great age to lock it up before things get more expensive as underlying health issues begin to surface. Get enough so that the other person can afford to quit their job and take care of kids until they turn 18 (In your case, 12 years) plus enough to pay for college (minus already saved).  For example, if your annual expenses are 100K and you expect college to cost $600K and you have enough saved for college that will grow to about $400K), then get a $1.4 to $1.5m policy for both of you. This is rule of thumb based on the limited info. you provided. Talk to an Insurance agent to determine exactly how much they recommend, but apply some common sense to their number since they always want to buy more than necessary.[/quote]

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