Is $500,000 in life insurance coverage enough?

$500,000 is more than enough for some people and not nearly enough for others — it depends entirely on your income, debts, and family obligations. For a single person with no dependents, it may be excessive. For a family with a $300,000 mortgage, two young children, and a $90,000/year income, it could fall short. Use the DIME method or a coverage calculator to find your specific number.