Life insurance for a Stay-At-Home Parent

Below is a video from Denver’s 9News channel discussing the need of life insurance for a stay-at-home parent.

Great interview on a topic that is often discussed with our clients.  I do agree there is a significant need to provide coverage on both parents, working and non-working.  Obviously, the family wants to insure the bread winner’s full human life value and income potential.  But what is the value of a parent that does not have a W-2 job, works on a contract basis, part-time, or not at all?  Just how much is a stay-at-home parent worth?  My wife and I both work, so we know the cost of full-time child care nowadays, and it’s not cheap.  Not to mention, all the other jobs around the house that would need to be taken care of if the stay-at-home parent unexpectedly passed away; laundry, dishes, making lunches, rides to/from school, helping kids with homework, making dinner, cleaning the house, transporting the family to after school activities, outside yard work, keeping the house in order, paying bills, mid-day doctor appointments, grocery shopping, and the list goes on.

I disagree with the estimated amount discussed in the conversation.  This amount will vary based on each family’s unique situation.  Maybe the amount is an average based on this advisor’s experience, but the exact amount is hard to provide with a blanket “rule of thumb” amount.  The advisor in the video does provide the correct advice for the consumer to discuss this topic with a professional.  These questions and more are discussed in the video below.  We are here to help you.  If you would like your current coverage reviewed or if you think it’s time as a stay-at-home parent to get life insurance coverage, give us a call today.


This website is for informational purposes only and is not intended to be specific advice or recommendations. For specific advice or recommendations you would need to meet directly with one of our advisers.