Nine Important Reasons: Why Stay-at-Home Parents Need Life Insurance

Life Insurance is the major safety measure for people. Many working parents know the worth of life insurance. They care about their children and family. In order to protect them, they need life insurance. But the fact of life insurance is it is not essential for working parents only while it is equally important for stay at home parents. Yes, stay at home parents can protect their family through insurance. Stay at home parents should know the worth of life insurance. Every parent needs coverage if anything wrong happens to them. In this article, I have shed light on some important aspects of life insurance. Here are nine essential reasons for stay-at-home parents that they need life insurance.

Following are the important life insurance reasons for stay-at-home parents:

  1. It replaces the value of stay-at-home parents’ labor.

Usually, stay-at-home parents are housekeepers but they also do some part-time jobs like tutors and cooks. They also contribute to their household expenses. According to the report of the, they contribute the equivalent of a $162,581 annual salary to their households. If any misfortune will happen to you or your surviving partner then, life insurance is the best way to get a considerable amount of coverage.

You can overcome quickly on the hurdle you are facing. Because in any worst situation money is the most important thing you may need. And if you get coverage amount for your loss, this is the most wanted help you will get. So, for every parent whether he/she is working or stay-at-home parent, life insurance is important. Life insurance is for a specific period of time like for 10 to 20 years. Until the time of maturity, you have to pay aspecific amount of annual premium.

  • To contribute in any future income of stay-at-home parents.

Usually, mothers think they will return to the working world once their kids are grown up.Life insurance plays a vital role here it could fill up the gap that their future earnings would have contributed to the household expenses.

  • To pay off your debts.

Stay-at-home parents would also be under some informal loans like student loan or credit card loan. You never know what would happen next to you. Life insurance will cover, your all informal loans after you. And your children will be free of any debt in the future.

  • It also covers the funeral expenses.

Life insurance has a significant policy which covers your all funeral expenses. In today’s era, it is hard for a middle-class family to cover all the funeral expense. As the average funeral expense is between $8,000 to $10,000.The best part of the life insurance is it covers your funeral expenses and you may not need to worry anymore for your last moments.

  • It is helpful to fulfill your charity dream.

You may use the coverage amount for the charity purpose. If your partner had a dream of opening a holy place or any nonprofit organization. This dream may come true because of the life insurance coverage amount.

  • It helps in savings.

Permanent life insurance gives you prolongs protection. It may offer you some additional living benefits like to build cash value.This cash can be used in future for any purpose. You can use this amount for the down payment of the loan or build a home.

  • It covers your medical expenses.

There is no guarantee that you will be healthy all the time. Your health may get change at any stage of life. You need money to cover your medical expenses. Life insurance gives you the facility of covering the medical expenses.

  • The coverage amount is tax-free.

The amount your loved ones receives from the insurance is income tax-free. You do not have to pay income tax on the insurance amount you receive.

  • It gives peace and relaxation to your children.

When you lose your partner, it is hard to handle household expenses alone. But you may get peace and sigh of relief because of the life insurance. You can handle unsettled debts, childcare expense, utility bills, funeral expense, and many more expenses.


Published by


Writer. Unapologetic fitness junkie. Award-winning internet researcher.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s