We all know that stay at home mothers work HARD. If you are a proud stay at home mom or are lucky enough to marry one, you may be wondering if she needs a term life insurance policy.
The answer is yes, stay at home moms need life insurance! Although a stay at home mom doesn’t bring home a check each month, she does contribute to the family budget in many important ways. The biggest way is by saving the family on childcare costs.
Let’s say that Jill is a stay at home mother with a three-year-old daughter and one-year-old son who dies suddenly of a brain aneurysm. Her husband, Jose, is understandably devastated, but knows that he must continue working so he can pay the mortgage and the other bills for his family. Speaking of bills, without Jill, Jose has to put his children into daycare, which costs almost $1,200 per month for both children. Additionally, he is too exhausted to clean the home after work and must hire a weekly maid service. Jill was also in charge of the budgets, and now Jose hires an accountant to do the taxes each year, takes his clothes to the drycleaner, and even hires a travel agent to book the family vacation. These are all things Jill would have done, saving her family money.
If Jill didn’t have at least a small amount of term life insurance, Jose may have trouble covering all of these additional costs. A modest term life insurance policy could have cost Jill less than $20 a month and helped her family remain financially secure after she was gone.
To learn more about term life insurance in San Diego, give us a call at (858) 707-4690.