For families with children the bulk of their life insurance need relates to their

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For families with children, the primary concern is to ensure that their children are well-provided for in the event of their unexpected death. Therefore, the majority of their life insurance need will revolve around income replacement. This means that the life insurance payout should be sufficient to replace the loss of the insured's income and ensure that their family can maintain their lifestyle and continue to meet their financial obligations. While final expenses, debt repayment, and readjustment periods may also be factors to consider, they are typically secondary to the need for income replacement.

For Families with Children the Bulk of Their Life Insurance