Mortgages. This is perhaps the most expensive of all types of debts. Individuals who carry a mortgage tend to benefit from a term policy of at least the value of that mortgage. If you die, your loved one can pay off the mortgage with those funds. 

Student loans. In some cases, your family may not have to repay student loans after your death. In others, they could be responsible. Therefore, this settlement might aid you. 

Car loans. Any type of vehicle loan is a must to cover. Add these funds to your list of debt obligations. 

Credit cards. If you are single and without any heirs, your estate may not need to pay off your credit cards. Yet, for most families, these debts need repayment. Therefore, you should add this to your term life insurance value. 

Back taxes or child support. If you owe funds like these, be sure to include them in your debt obligation list. You will want to ensure the life insurance policy covers these debts. 

Personal loans. Any organization or person who has the ability to place a claim on your estate at the time of your debt should be a part of this list, too.