My wife doesn't work and my daughter lives away from home at college. It would actually cost me less to live (main housing and related expenses don't change and costs directly associated with my wife, i.e. clothes, hairdresser, cabs, etc... would disappear) should my wife predecease me; so why does the program recommend she carry insurance? I have plenty (acutally a little more than the program recommends) and she has none. Estate purposes possibly?
thanks,
Larry
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RSS
What the life insurance does is to insure your standard of living. She provides some protection for you due to the effect of taxes, probably, thus the program is telling you that she needs to buy insurance to protect your standard of living in the event of her death. The number is hopefully not all that large and should be going to 0 as you get a bit older and accumulate enough assets to cover your expected standard of living.
Best,
Dick Munroe
Thank you.