Do I need life insurance for a stay at home spouse? Too many families forget to purchase life insurance for a spouse that stays at home and takes care of the children.
This can be a tragic mistake should the stay at home spouse die unexpectedly. There are many things that he or she does that would need to be replaced right away such as caring for the children, cleaning the house, and other items.
Not having life insurance for a stay at home spouse could make a dramatic impact on your family’s budget and put you in a financial hurt. This is of course on top of your loss.
Do I Need Life Insurance For A Stay At Home Spouse
Do I need life insurance for a stay at home spouse? Here are a few thing to think about when you are considering purchasing either term life insurance or cash value life insurance for a stay at home spouse.
It’s Tough To Replace A Stay At Home Spouse
If you stop and think about it, a stay at home spouse provides a lot of services to the family. Should your spouse die unexpectedly, then you would need to hire someone to come in and fulfill those roles in your home. For example, think of all the cleaning that your spouse probably does on a daily bases.
Your stay at home spouse also most likely cares for your preschool aged children. If he or she should die, you would need to pay someone to do those things. The same could be true for meal preparation. Not having insurance to cover the cost of these items could leave you in a financial bind.