We have different needs at different stages of life. A young Gen Zer entering the workforce for the first time will have an entirely different path and goals than their Gen X counterpart who can see retirement in their near future. A newly married couple will have different priorities than their neighbors who have two kids leaving for college.
No matter where you are in life, when it comes to protecting the financial future of your loved ones, preparation for the inevitable and the unexpected is critical. Obtaining a life insurance policy can help ensure your family’s immediate needs are met and financial future are properly protected in the event of your passing. But how do you know if you need it?
I’m a stay-at-home spouse with kids. Do I need life insurance?
Between meal prep, chauffeur duties, grocery shopping, and the countless other tasks, experts estimate the median time worked for stay-at-home spouses reached 106 hours per week during the COVID-19 pandemic. That’s a fair market salary equivalent of $184,820.
If you’re a stay-at-home spouse, you know how hard (not to mention expensive) it would be for your family to find help covering your responsibilities. A life insurance policy would help cover those costs.
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