Life Insurance: How can you determine if you are under-insured or over-insured?

Life insurance
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Q.1
There are essential questions you should consider before buying a life insurance policy. One, what you need from life insurance; you have to establish who you are protecting, whether your spouse, children, or others. Two, the amount of life insurance you want, which depends on your financial obligations, family’s needs, and policy length. Three, establishing the type of policy to purchase, which can either be term life or permanent life insurance. Four, whether there is a waiting period before the coverage become effective as some insurance becomes effective once you start paying while others have a waiting period. Five is what happens if you miss a payment to know what to expect.
Q.2
Paying more than necessary for coverage is a waste of money, while not having enough is ...