So, if there are 4 people you want to name as beneficiary to a life insurance policy with each getting an equal share, you could say each person gets 25%, or, if it's a $100,000 policy, then you could state each person gets $25,000 from the proceeds of the life insurance policy.
However, the amount each person gets from your life insurance is up to you.
So, in this instance, you could decide your wife gets 40% and each of your three children get 20%, or, any other way you want to divide up the total amount of coverage.
Since the money will go to individuals and not an estate, there is usually no federal income tax paid on the proceeds from a life insurance policy.
It's important to note, if you die before your children are considered adults, you may want the proceeds from the life insurance held "In Trust", and name a trustee to oversee the money, such as, your spouse.