Does A Stay At Home Mom Need Life Insurance?

1. 

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   Christopher Lawrence

   Insurance Broker | Financial Consultant, Lawrence Insurance Consulting, Southern New Jersey

   It depends, I am guessing that you are married and therefore the family income is not dependent on you. However if you were not around would that result in extra expenses that would put a financial strain on your family? Even just $5,000-$15,000 for the funeral, then childcare costs, perhaps a maid a couple times a week, less home cooking and more take-out? I would say that you probably would not NEED it however it would be a good way to protect your family. Perhaps a policy that covered both your husband and yourself that would pay the death benefits to whomever outlasted the other one(sorry probably could have been put more sensitively).

   Answered on April 20, 2013

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2. 

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   Peggy Mace

   Most of the U.S.

   I was a stay at home mom for 13 years, and most of us moms make that choice because we want our children to have the best and most trusted care possible. If you were to pass, no one could replace you. But you would want your husband to find the next best possible caregiver for your child(ren). The benefits from a life insurance policy could help him do that.

   Answered on May 2, 2013

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3. 

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   Tim Wilhoit

   Owner, Your Friend 4 Life, Brentwood TN

   Purchasing life insurance as a stay at home mom makes sense in most cases. Just because there is not an income to replace, there is certainly an expense to replace. Having my wife as a stay at home mom for many years, I would not have considered not insuring the risk of her early death. Having a stay at home mom allows working men the time to earn a good living while not having to worry about other things. A stay at home mom not only cares for the children, but cooks, cleans, runs errands, pays bills, handles household affairs and much more. If the stay at home mom were to die, it would cost an estimated $80,000 per year to hire child care, a cook, a housekeeper and someone to run errands just so the household stayed intact and life could continue. I would consider your exact replacement expenses and the number of years before the children are self sufficient. Purchase ten times that amount in life insurance. It is a risk too large to ignore.

   Answered on August 31, 2015

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