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Although employed parents are sometimes able to take out a life insurance policy through their company’s benefit package to make sure their loved ones are taken care of after they pass away, it is also important for stay-at-home parents to take out a life insurance policy as well. Below, we discuss some of the reasons why stay-at-home parents need life insurance.

Replacing the Value of Their Labor

Stay at home parents are responsible for filling a number of important roles, including:

  • Chauffeur
  • Cook
  • Personal Tutor
  • Housekeeper
  • Caretaker

According to, parents who stay at home to take care of their families annually contribute the equivalent of a $162,581 salary to their households. In the event that a stay-at-home parent passes away, the surviving parent would be left with significant expenses to fill the roles listed above.

Contribute to Future Income

Stay-at-home parents often return to the workforce when their kids get older. A life insurance policy can help supplement their future earnings that will be contributed to the household.

Pay Off Debts

Family members can sometimes accrue substantial amounts of debt from credit cards and student loans. Money from a life insurance policy can be used to help pay off debts so that your loved ones don’t have to stress out while they are grieving.

Funeral Expenses

The average funeral costs families between $7,000 and $10,000. Securing funds to pay for burial expenses and a headstone can be difficult for loved ones after a stay-at-home parent has died. The payout on a life insurance policy can help cover such expenses.

Guarantee Insurability

You never know when your health will suddenly change for the worse. But if you take out a permanent life insurance policy while you are young and healthy, you’ll be covered for the rest of your life. If you wait and end up getting seriously ill, it will be difficult to obtain life insurance coverage.

Life insurance is clearly just as important for stay-at-home parents as it is for employed parents. If have more questions about getting your own policy, contact our Atlanta insurance professionals today to schedule an appointment.