The amount of life cover that you need depends on a few factors:

How much debt do you have outstanding (i.e. your bond, personal cover and student loans)?

How much income do you need to substitute when you aren’t around to provide for your family (school fees, medical aid and daily living costs)?

What are the potential executor and tax costs you will incur if you pass away (i.e. estate duty and Capital Gains Tax best to discuss with financial manager)?

All these factors will affect the level of life cover needed so each case needs to be looked at on an individual basis.

Your planner should be able assist you with calculating this amount so that you get the correct level of cover for your family.