Make sure you have enough coverage. Use the "D.I.M.E." formula to estimate the amount of protection needed.

Debt/Death: Outstanding debts such as credit cards and loans. Calculate your insurance needs to cover estate taxes, fees and expenses at the time of your passing.

Income: Your insurance need is estimated to be five to ten times that of your gross annual income depending on whether you are a single or dual income family.

Mortgage: Home loans and equity loans.

Education: College - 10K per year per child