Do Stay-At-Home Parents Need Life Insurance?

A lot of us assume that the only people who need life insurance are the breadwinners of the family.  The person who brings home a paycheck that would need to be replaced if they were to pass away.  But this simply isn’t true! 
 
If you’re a single-income family, you also need to consider life insurance for the stay-at-home parent in your household.  Why?
 
Well, even if they aren’t bringing in a regular paycheck, the stay at home parent is contributing in many ways - and those costs add up!
 
Salary.com’s annual survey assessed that the base salary of a stay at home mom comes to $48,509 with an additional $94,593 in overtime pay!  Stay at home parents are in charge of child care, housekeeping, daily cooking, shopping, and many other household tasks. 
 
If they were to die, the working parent would still need to work, but would also have to afford child care and take on ALL of those household jobs.  It would be extremely tough, especially after a terrible loss.
 
This is where good life insurance comes in.  With the right coverage, the surviving spouse could afford the help they needed in a difficult situation.  Plus, they could arrange to take time away from work as needed so that they could be there for their children. 
 
Unsure of how much coverage your family needs?  Let us help.  We’ll review your current household income and how much coverage would protect your family as well as your stay at home parent.  Call us today at (479) 632-8888 for a free no-obligation review and quote. Or come visit us at Sangster Insurance 1035 Highway 71 North in Alma.