do you have a mortgage? You may want to look into getting mortgage protection insurance this is a term policy that will cover all or partial of the mortgage

I always suggest a minimum of ten times your income as an insurance base. With that amount, the death proceeds can be invested for your family and with about 10% average coming back to them each year, it would be as if your income never stopped coming in for them.

This means your family wouldn’t have to move if they didn’t want to; the kids wouldn’t have to change schools, etc.

Less than ten times your annual income usually means that the family has to make major life changes when they are still emotionally distraught over your death as well.

Addendum:
SG Elite brings up a good point, only it’s not just a will you likely need. Depending on your assets (if over about $100,000 including your home), you might be better advised to have a Living Trust put into place. Make sure that it is a complete estate plan and not just the trust itself and MAKE SURE that it’s funded!!!!!! and it’s not just an empty trust (which I’ve seen as I’ve reviewed trusts that are already in people’s hands). A trust should help your family avoid probate (in some states an absolute horror) and make it easier for them if you and your spouse should die.

You should have term for the replacement of your income if you die at a young age but only if you have a wife and/or kids who depend on your income.

For funeral expenses you need an increasing benefit whole-life. At your age (young) you should probably qualify for preferred rates. For instance if you are to have an $8,000 funeral you would probably qualify for a policy where you pay around $5,000 to $6,000 over a 5 year period. The policy will initially cover you for $8,000 but will increase around 4% each year. If you live a long life and your funeral costs $25,000+ your policy will cover it but you will have only paid $5,000 to $6,000 in total for it.

These types of policies are mainly sold through funeral homes.

I prefer the idea of buying a whole life policy when you are young, as much coverage as you can afford. Once you finish paying for a whole life policy, you have the coverage forever (until ou die). A term policy will expire after so many years (10 yr term, 20 yr term, etc) and although some of them are renewable, the company will calculate a new rate based on your age and health at the time of renewal.

If you do not think your whole life policy will be sufficient for the needs of your family, and you can’t afford another whole life policy (they are more expensive since they do not expire), the by all means purchase a term policy.

Life insurance is good; you need only one! If you have the spare cash, invest in term policy. It gives you your money back with dividends at the end of the term. This money will come in handy especially when age catches up or should you decide to quit working. Remember that your efforts could be worthless without a Will! Have a lawyer prepared a Will for you so at least your family members will be taken care of should the unfortunate happened to you.