Can I have too much life insurance?

Insurers consider financial justification, and excessive premiums can compete with savings, debt reduction, and other protection needs. When the contract terms are examined, life insurance needs are commonly based on income replacement, debts, education, caregiving, final expenses, business obligations, and the resources survivors already have. When evaluating the policy, a simple income multiple may be a starting point but can miss important details. The written policy and a current illustration should anchor the review, then ask a licensed insurance professional to identify in writing the guarantees, exclusions, riders, and surrender limits that matter.