 Typically now, hey, life insurance is not part of the baby steps because it's needed whenever your family has debt and not enough savings to provide for their ongoing financial needs. That's when they're at their highest risk. And no matter where you are in your baby steps, life insurance is a necessity, not a choice. This goes for working husbands and wives and it also includes stay-at-home parents because it's really expensive to replace those stay-at-home parent responsibilities.