There is no magic bullet to quantify what one may or may not need in regards to face amounts of life insurance. Each person is different in regards to their needs, objectives and what the insurance will ultimately be utilized for. It is not practical for people like the "Dave Ramsey's" of the world to state that one needs 5 or 10 times their income as a general rule of thumb. In my opinion, a person is just trying to sell you something by stating the 5x or 10x income. Any recommendation for life insurance should only be given after a complete and comprehensive review of that person's needs and ability to comfortably afford the premiums.

There are pros and cons to permanent life insurance as well as term. Again, each person is different. My suggestion is to get with a good advisor and purchase the policies that meet the needs necessary to protect your family, business...etc. and always purchase what you can comfortably afford.

If anyone has specific questions, please ask.