It's a misconception that the only person who needs life insurance is the primary breadwinner of the household because they are the ones who bring home a regular salary. It’s not just the breadwinner who needs life insurance - the need to purchase life insurance for the stay-at-home parent should not be underestimated.
Unfortunately too many families fail to plan for this unexpected hardship as it's not something most people like to think about - the idea of leaving behind your family is unfathomable. However, preparing for the unexpected doesn’t make it happen any sooner and it is just a prudent and wise move as the death of a stay-at-home parent can leave a family extremely vulnerable and can place a huge financial burden on the family.
A stay-at-home parent provides valuable services that the surviving parent would have to pay to replace. The cost of child care in America is staggering. The average cost of full-time daycare in the United States is over $11,000 per year or $900 a month.
Couples who consider all the ramifications will quickly understand why it's so important that a life insurance policy covers both parents. Should something happen to the stay-at-home parent, the surviving spouse soon would find himself or herself as the primary income earner and the primary child care provider, while also coping with the loss. A life insurance payout could also enable the surviving breadwinner to take a few years off work while the family regains footing.
Term life insurance protection is surprisingly affordable and simple to purchase. Get a free instant quote now or call us to discuss 484-919-5423.