Help Desk FAQ

Life insurance


Should all family members have their own policies?

Consider how much each spouse contributes to the family's support—and how much it would cost to replace. This might include income from a salary and/or unpaid services that would need to be covered if you or your spouse died, such as housekeeping, shopping and cooking, child care, bookkeeping, tax preparation or home maintenance. If you find that a substantial part of the family's support system would be lost with the death of either you or your spouse, then you might choose to have two policies.

Children don't need life insurance, unless they are supporting you. There are better options for saving and investing—such as regular automatic deposits to your savings account, money market funds, mutual funds or stocks and bonds.





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Consumer Help Desk