| Many times, when considering life insurance, | | | | covered in the life insurance policy. A cook or |
| people only think about purchasing coverage for | | | | chef may be available to cook for your family |
| working spouses. Unfortunately, this mistake | | | | once a week and freeze everything to make |
| leaves families vulnerable to severe hardships if a | | | | preparation during the week easier. Yard work |
| stay-at-home parent is not covered as well. | | | | may often be covered by a landscaper, while pool |
| Stay-at-home home parents tend to be | | | | maintenance could be paid for as well. On one |
| overlooked because they are not bringing in an | | | | person's salary, it might be almost impossible to |
| income. However, when it comes to term life | | | | get help with all of these chores. |
| insurance, they should receive at least the same | | | | Unemployed spouses are often undervalued as |
| coverage as the employed spouse. | | | | far as money goes, but this has little to do with |
| Why These Spouses Need Life Insurance | | | | what they are actually accomplishing, and more to |
| The most important job performed by these | | | | do with their lack of a current paycheck. They |
| moms and dads is child care. When there are | | | | have to be taken into consideration when term |
| young children, some families prefer to have the | | | | life insurance is purchased for anyone in the |
| child stay with a parent instead of being in | | | | family. The monetary value of the work these |
| daycare. They no longer have a salary, and some | | | | parents do around the house sometimes far |
| monthly expenses are a bit higher with more | | | | outweighs the paycheck of the other spouse, |
| people at home, such as the extra water and | | | | once everything is considered. |
| electricity that is used. | | | | The average stay-at-home parent is considered |
| Depending on how many children there are, the | | | | by to be worth $134,000 per year. Have your |
| costs to cover this kind of care in the case of | | | | term life insurance consultant help you estimate a |
| death can cost hundreds to thousands each | | | | monetary value that will secure your current |
| month. Of course, the kind of daycare used will | | | | lifestyle in the case of a spousal death. It could be |
| make a difference. There are home daycare | | | | one of the best decisions you make. |
| owners that offer more one-on-one time with a | | | | Anticipated Income |
| child, or daycare centers that have more | | | | Returning to work after taking care of the |
| resources to provide toys and teaching; the price | | | | children is a dream for many unemployed parents. |
| varies as much as the service. Nothing can | | | | Getting back to a social life, a place where they |
| replace the time children will spend with their | | | | can do what they went to school for, and |
| parents. However, if enough insurance is | | | | contribute to family finances is what many want |
| purchased, the help of a childcare service will | | | | to do. |
| lessen the burden on a parent should something | | | | Many times, families are looking forward to and |
| happen to the other. | | | | depending on receiving a second income when the |
| Household Tasks | | | | kids are older. Consider the family that has an |
| There are endless chores to do around a house | | | | ARM mortgage; the interest rate may increase |
| to keep everything and everyone in order. Most | | | | around the time the second spouse would go |
| of the time, the chores tend to fall on the spouse | | | | back to work. Earning extra income after a few |
| who is not working. While childcare may be | | | | shorts years of being away from work can also |
| affordable with the current salary, finding | | | | help pay off student loans, credit cards, or vehicle |
| someone to help with all these tasks will be more | | | | debts. Some of this debt may have piled up from |
| costly. The chores themselves range from | | | | the years of being home, buying kids' clothes, |
| accounting, cooking, cleaning, organizing, yard | | | | diapers, and dealing with other early childhood |
| work, maintenance, grocery shopping, and more. | | | | expenses. |
| Finding or hiring one person to do all of these jobs | | | | However, if a death occurs, this income won't |
| will be difficult, if not impossible to do. However, | | | | ever be available to pay off such bills. While |
| with the right amount of money, the task | | | | everyone hopes this kind of thing won't happen to |
| becomes easier to accomplish. Hiring a maid to | | | | them, it is always better to plan ahead in case it |
| come in and clean a few times a week could be | | | | does. |