Here are 3 reasons why you should consider getting more life insurance than just enough to replace your current income, no matter how well-defined your financial plan may be.

1. Life after the death of a loved one cannot be fully predicted or quantified.

A surviving spouse is already dealing with a lot and to perfectly predict how they will deal emotionally or financially at that time is likely something they cannot predict, let alone that a financial professional can. Getting an additional “cushion” amount of life insurance beyond the bare minimum to cover expenses can help with unquantifiable emotional expenses.

2. You can’t predict all future expenses that could come up between the time you get life insurance and when death may occur.

After you get a life insurance policy there are several unexpected new expenses that could come up related to health, children, and other circumstances and events. However, you can predetermine mortgage, college, and burial expenses and pay for those in full in the event of death, in addition to your regular budgeted expenses. Doing this can create a lot of financial breathing room for other unexpected expenses that come about.

3. Life insurance is discounted dollars.

If you are paying off a mortgage through savings or earnings $150 is worth $150. However, if you are paying off a mortgage with life insurance, $150 could be worth $250,000. So, if you see that the difference between paying off your mortgage or not in the event of death is an extra $10-$15 a month, yes it can be for peace of mind, but it could also end up being one of the best financial decisions you ever make—even if that is more life insurance than your budgeted needs require.

Finally, when it comes to a life insurance benefit amount, you may ask your spouse or partner if they would rather you error on the side of too much or too little. When a death claim is made, it is unlikely that anyone has ever been upset that they or their loved one purchased too much life insurance.

Of course, in the end, the amount of life insurance to purchase is a decision that should be made by couples and should be an amount that they are comfortable with, helps them feel secure, and can afford. However, considering these points can help you make a more well-informed decision.