| A single policy (which may be issued as term, or cash value) insures all family members |
Varies with type of underlying cash value or term policy selected |
Varies with type of underlying cash value or term policy selected |
Makes sure that all family members are covered; Only one policy, so is usually cheaper than individual policies providing same coverage on each |
Usually there is no compelling reason to have high coverage on children, so they may be overinsured (often at the expense of underinsuring the family income providers) |
Where fairly high policy protection for children is desired |