 typically costs around $150 to $300 per year for the first $1 million of coverage. Now you asked, is this something you need? How much of it would you need? Obviously, the certified financial planner in me says go have an entire plan built out and determine exactly how much you need. That's the best solution. But generally speaking, you'll evaluate your assets just to ensure that the coverage matches or exceeds your net worth because you're looking to protect all of your assets or at least most of them.