Life insurance protection is another step on the road to financial peace of mind. It can be a cornerstone of a sound financial plan, providing financial stability to a surviving spouse, children, or other family members. To start, determine your net earnings after taxes as well as your routine living expenses. Then take into account any outstanding debt - such as mortgages, education loans, or other loans - as well as future tuition bills and how much a surving spouse might need to adequately fund a retirement nest egg. Generally, you'll want a benefit that will cover all of these expenses.