Term
| have largely replaced the traditional family in which only one spouse is in the paid labor force |
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Definition
| families in which both spouses work outside the home |
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Term
| in two-income families with children, the death of one income earner can cause considerable economic insecurity for the surviving family members, b/c both incomes are |
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Definition
| necessary to maintain the family's standard of living |
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Term
| in two-income families with children, both income earners need |
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Definition
| substantial amts of life insurance |
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Term
| in two-income families without children, premature death of one income earner is not likely to cause economic insecurity for the surviving spouse. so the need for large amts of life insurance by income earners in this group is |
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Definition
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Term
| families in which only one parent is in the labor force, and the other parent stays at home to take care of dependent children |
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Definition
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Term
| in traditional families, who needs large amounts of life insurance? |
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Definition
| the working parent in the labor force |
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Term
| does the non-employed spouse who is caring for the dependent children in a traditional family need life insurance? Why? |
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Definition
| yes b/c child-care services can be a heavy burden on the surviving spouse who is working |
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Term
| a family in which a divorced spouse with children remarries, and the new spouse also has children - additional children may be born after the marriage |
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Definition
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Term
| Who needs life insurance in a blended family? |
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Definition
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Term
| a family in which a son or daughter with children provides financial support or other services to one or both parents |
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Definition
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Term
| in a sandwiched family, the son or daughter is "sandwiched" btwn the |
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Definition
| younger and older generations |
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Term
| a working spouse in a sandwiched family needs |
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Definition
| substantial amounts of life insurance |
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Term
| In what type of family can premature death of a working spouse result in the loss of financial support to both the surviving children and the aged parent(s)? |
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Definition
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Term
| should you buy large amounts of life insurance on children? Why or why not? |
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Definition
| no b/c the parent usually supports the minor child |
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Term
| the major disadvtg of insuring minor children is that the family head may be |
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Definition
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Term
| scarce premium dollars that could be used to increase the amt of life insurance on the family head are instead diverted to cover the children |
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Definition
| disadvtg of insuring children |
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