how much life cover do I need

Sam, 36, earns £45,000 and has two children under 8. His mortgage has £185,000 outstanding. His employer offers no death-in-service benefit. When he asked his broker how much life insurance he needed, the broker said: ’10 times your salary — so £450,000.’ Sam took out a £450,000 policy and felt covered. He wasn’t. Using a…