Hi Sarah, it really depends on your financial situation and how you would ultimately want to provide for your children should you pass. The best way to determine the amount of life insurance that would be best would be to do an economic valuation, which will take into consideration the value of your life, potential income, and also consider your wishes for providing for your children up to paying for their college. Also, especially for the children's sake, you should take steps to establish guardianship plans for them should there not be a spouse to care for them. Depending on the state you live in, it can be quite difficult to make sure your children go to the person you think they should go to if a Will or Trust isn't established with guardianship rules spelled out plainly. They won't always go automatically to the 'next of kin' (outside of a living spouse, that is) so you want to make sure your wishes are established and in writing. If you'd like to look at that in more detail, feel free to contact me.