The bottom line Should a surviving spouse keep their own policy? Usually, yes, when someone would face a financial loss if you died. Review income, dependents, debts, savings, and survivor benefits before changing coverage. Eligible spouses may qualify for Social Security survivor benefits at 60, or 50 with a disability. Key facts Your policy protects … Read more

The bottom line Is life insurance purchased during marriage community property? It can be, but the answer depends on your state, when the policy was bought, and whether premiums came from community or separate funds. A policy’s ownership, cash value, and beneficiary rules can have different answers, so the policy and your state’s law must … Read more

The bottom line Should both spouses carry enough life insurance to pay off the house? Usually, both should consider coverage that protects the household if either person dies, but the amount does not have to be identical. Start with the mortgage and the costs the survivor would need to handle, then subtract existing resources. A … Read more