Do you know your worth as a stay at home parent?
Most people believe that only the primary earner in the household needs life insurance.
The loss of the main source of income would be detrimental to a family. Ask yourself, should stay-at-home parents have life insurance in place too? The answer is yes, for a few reasons.
Do you have any friends or relatives who would look after your children for free on a full-time basis? The surviving spouse would be faced with childcare costs in order to continue to work. Daycare, housekeepers and/or nannies are not a small expense.
Driving children to school and to extra-curricular weekly activities would be next to impossible for a working spouse. If carpooling wasn’t a possibility, busing or hiring a driver would be needed; these options also have associated costs.
It takes a lot of organization to keep a household running smoothly. Groceries need to be purchased, children need to be fed, house cleaning and laundry would need to be done. Hiring a housekeeper would add to the mounting bills facing the surviving spouse.
These are just three of the many jobs of a stay-at-home parent; he or she also may be helping with homework, taking care of household accounting, home maintenance and much more. Yet, despite all of these invaluable contributions, the stay-at-home parent continues to be greatly undervalued.
Without question, the death of either parent would have a huge impact on any family – both emotionally and financially. Having life insurance in place for just one parent only partially protects the family against financial hardship. Stay-at-home parents should also have a safety net to help protect the family, should something happen to them. Without life insurance in place, the family might face having to move somewhere more affordable to help them cope financially – at a time when stability would be most critical.
So if you’re a stay-at-home parent, recognize your true worth. Realize how financially devastating it would be for your family to lose you. Then, carve out a few minutes in your busy day to look into life insurance as a safety net. With a variety of affordable life insurance plans, Your Friend With Benefits® is a great place to start for a no-obligation quote.
Get the coverage your family deserves.