The first thig you should do is to check your monthly spendeture and see if any expenditure on lifecoverage will be the most beneficial for your lifestyle. Now that you have chosen how much money you are thinkng of using, it is also important to check the assets and liabilities you own, this is vital as your financial plan will go towards paying off any of your liabilities first. Consider tax implications. The advice of a financial planner cannot be stressed enough when it comes to the complex world of tax.
Remember that you will also have to take into account how inflation will effect your retirement plan, it also recommended to speak to a proffesional for these choices as well. Find out who you can contact to prepare a detailed analysis and establish what the costs will be up front. A very important piece of adive for you safety is doing a thorough background check on Financial planners before hiring them, they can do wonders for your plans and goals but it is never a bad idea to make sure that you know the person controlling your money well.