A husband and wife have a disabled child who is financially dependent upon them. The death of one parent would not result in financial disaster for the child, but the death of both parents would. Which policy should they purchase?

A juvenile policy is designed to provide life insurance coverage for children, typically used to secure insurability and build cash value. However, it does not address the financial needs of the parents or provide support for the child in the event of both parents' deaths, rendering it inappropriate for this scenario.

A first-to-die policy pays out a death benefit upon the death of the first parent. While it can provide immediate financial support, it may not sufficiently secure the long-term financial stability of the disabled child if both parents are needed to ensure their ongoing care and support, thus not fully meeting the family's needs.

A family protection policy typically combines life insurance for both parents along with coverage for children, but it generally pays out upon the death of either parent. This would not guarantee support for the child after both parents are gone, making it less effective in addressing the specific financial concerns outlined in the scenario.