Ideally, there should be a true teacher-student relationship where the teacher could have some positive influence on the student's behaviour in the outside world. I believe that this relationship becomes more visible in the case of Japanese teachers, as the role of teacher in the far-east is that of a moral authority that could trespass the confines of the dojo.
Unfortunately, even though I cannot admire enough my teachers' Aikido, their behaviour in normal life is not always as commendable as their Aikido, to put it in diplomatic terms, and I don't feel so compelled to consider any of them as a role model.
I am indebted for life to my teachers for giving me their knowledge in Aikido, which has become a big part of my life, and for that I am forever grateful, and I could never repay them enough for that.
I am not sure if we could talk about normal life anymore, as Aikido is interlocked in every aspect of our daily actions. However, I would rather try to base my actions in life on my own principles and ethics as well as on those of Aikido, not those of my teachers no matter how good they might be.
To answer the question, yes, I think teachers should tell the students how to behave in every day life and should try to influence positively their lives, but should the students follow the advice or not? That is another story.