Do Stay at Home Parents Need Life Insurance?

Most people realize that if the primary wage earner were to pass away that life insurance will help the rest of the family move forward despite their grief. However, having life insurance from The Smith Insurance Group Inc. for a stay-at-home parent is just as important. If you’re undecided about insuring a stay-at-home parent in Sandy, UT, these reasons might convince you that it’s important.

To Offset Funeral Costs

If the worst happens and a family loses their at-home parent, the costs for the deceased final arrangements must be provided for. An inexpensive burial can cost over $10,000, and even a low-cost cremation could still empty out a family’s emergency fund. A life insurance policy can help pay for the final expenses of the lost loved one, allowing the family to lay their mother or father to rest without worrying about how to pay for the final costs.

To Pay for Childcare Costs

Even if an at-home parent doesn’t earn money, he or she does provide a valuable service to the family by providing childcare. If the at-home parent is no longer around, the surviving parent will have to make other arrangements for the children’s care. Life insurance can help pay for these expenses.

To Allow Time for Grief

Grief is exhausting, devastating, and confusing. Those who lose a close loved one may not be mentally or physically capable of going back to work full time for several weeks. Life insurance can allow the surviving spouse to take time off of work for a few weeks to recover from the devastation of this loss. Additionally, the children may need extra attention and love, and the funds that life insurance provides can give the remaining spouse financial space to nurture little ones who can’t possibly understand why their family looks so different. 

To speak to an agent about life insurance in the Sandy, UT area, contact The Smith Insurance Group Inc. today!