What can a death benefit help cover?
Beneficiaries may use proceeds for household bills, a mortgage, childcare, education expenses, and other needs. How benefits are paid depends on the policy and beneficiary designation.
Consider both parents and caregivers
A family may depend on earned income as well as unpaid work such as childcare and household management. Consider the cost of replacing either contribution when deciding who may need coverage.
How to think about coverage amount
List major debts, ongoing household spending, future education or caregiving needs, and savings or existing life insurance. Review coverage when family circumstances change.
Keep beneficiaries up to date
Review primary and contingent beneficiaries after major life events. Naming minors directly can create administrative complications; an attorney or qualified professional can help with estate-planning questions.
Frequently asked questions
Can both parents have life insurance?
Yes. Each parent can apply for their own coverage, subject to eligibility and underwriting.
Is life insurance only for families with a mortgage?
No. Families may consider income replacement, childcare, debt, or future expenses even without a mortgage.
Will my family receive the full quoted amount?
A policy’s death benefit and payment conditions are determined by the issued contract, including any applicable exclusions and provisions.
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Review available coverage through the Ethos application experience, at your convenience.
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