You might have limited financial obligations, or your spouse's career may provide enough financial support for the family. No matter what your personal situation is, it makes sense to consider your coverage in terms of salary multiples. When reporting a new salary, underwriting may be required to increase your coverage when participating in the salary multiple option of four times or greater. In some cases, people want a flat amount of coverage not tied to their salary. By the time you reach age 65, your financial responsibilities can be significantly different than when you were younger.
Most people see financial obligations ease as they approach retirement.
Your family may no longer depend so heavily on your income. More families today depend on two incomes to meet household expenses. If your family is one of them, it is imperative your spouse has adequate insurance protection. If your spouse dies, your family will need a source of income to replace those lost wages. Even one-income families need to consider insuring the spouse who does not work outside the home.