The amount of cover you need will be different for every person. You should consider your individual circumstances. For instance, you might have a mortgage and or other outstanding debts that will need to continue to be paid down. You should also ask yourself how much money your partner may need to maintain their standard of living, including bringing up any children. Also consider if it would be more beneficial to provide your family with a lump sum they can manage, a fixed annual income, or perhaps both.
If you find that your death-in-service benefit doesn’t provide the level of financial security you’ve determined that your family would need if you were to pass away, you may want to think of buying extra cover.
Death-in-service benefit can be a valuable addition to your employee benefits, however you should look at your own situation and ask yourself whether it will sufficiently provide for your family.