Stay-at-home parents need life insurance too

As CEO of the home, a stay-at-home parent brings significant value to the family caring for children and household while the other spouse works.

According to’s 2018 survey1, a stay-at-home parent balances 94.71 hours of work as a cook, a housekeeper, a chauffeur, a "personal life coach," and much more.

Converting all of the work the stay-at-home parent does into a salary means the parent would earn $112,9621 annually.

Salary replacement
If the stay-at-home parent passes away, not only would it be devastating emotionally, it could also cause a significant hit to your budget if you had to add in day care services, house cleaning services, time off work and other expenses.

While the total sum of these costs may not equal $112,962 per year in all cases, salary replacement of the stay-at-home parent is still an important reason to secure coverage.

Consider life insurance
Life insurance is designed to help protect and provide for your loved ones. In many families, the working parent has life insurance to help try to replace some of the income that may be lost. But what happens if it’s the stay-at-home parent that suddenly passes away?

In addition to paying for funeral expenses, the life insurance can help replace some of the 94.7 hours of work such as day care or carpooling services.

One cost effective option is term life insurance which can provide a large death benefit to cover the household for a specified time period 10, 15 or 20 years at a very affordable premium. After the term period, many carriers offer flexible conversion privileges to permanent life insurance, providing options when the term period is up or when a particular age is reached.

Next steps
For many families, paying a small amount each month for life insurance can help provide that peace of mind knowing their family will be OK financially whether you are the stay-at-home parent or the working parent.


The contemporary life insurance market is way more extensive than a source of income for beneficiaries when catastrophe strikes. With a plethora of options, these plans offer you and your entire family peace of mind, and often give your money investment opportunity to allow you to enjoy the money invested during your lifetime.

Choosing the perfect life insurance plan depends as much on your financial needs as it does on your health class rating. We will assess all factors and guide you through every option until we find the perfect plan for you.



Posted 10:00 AM

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