Life Insurance for the Stay-At-Home SpouseApr 24, 2022
Now that we're becoming a family of four, I started to think about how important it is that my little ones are always taken care of in every way possible.
Whether it be for a moment while I run an errand nearby and I leave prepped food for Andrew, to give our baby, or making sure our baby is changed and happy before and during our trips, or simply thinking ahead, for those, just in case moments.
I look back to that sunny day in college. I was heading to class stopped at a 4-way intersection on campus. Just a normal day, I had stepped on the gas to proceed through the intersection and Bam! Out of nowhere I was T-boned. I had just purchased my brand new 2014 Dodge Challenger. The last year Dodge decided to make the square, boxy, mean design and change it to a more rounded edge model. I had lucked out and bought exactly what I wanted. Yet, out of nowhere I was hit and spun full circle, all airbags deployed. Hit on the driver side, just missing ME, since the other car hit slightly behind the driver seat, leaving the back tire as the main area that took most of the impact. Anyway, the back axle was bent in and not to mention the value of my brand-new car was shot (which I had no clue about at the time. I was an inexperienced, bright eyed college kid) So there I was, stuck in my car, all airbags deployed, my glasses were broken, and I was unable to get out of the car since my seatbelt was stuck...
Glad I had great car insurance! Nobody plans for that scenario, but I was covered through my car insurance which handled every little thing down to replacing my Dolce & Gabbana glasses. What a scary situation, even for an independent college student that had tried to keep all their ducks in a row.
When you have a family, things change. For example, your mindset, your priorities, taste in movies and music because you consider little ears that are also listening. Your world changes. You start to plan ahead differently. Your needs, desires and goals look a little different since your think about your baby's first.
Some days, you even think about and try to plan, how you can help make sure that your babies are taken care of, in worst case scenario, you're not around for good.
For instances like that time in college your car was spun full circle and you're left wondering about how close that was to being far worse. Or the guy at the grocery store that almost backed right into your driver seat or the person on the freeway that didn't see you driving next to him because he failed to check his blind spot and nearly took you out. (Ya, all real scenario's). What about at home, when your neighbor tells you, a strange man in an orange jacket was checking garage doors or you watch a movie that makes you question, "What would happen to my baby's if I wasn't around and have, I made sure to look after them even if I wasn't?"
Besides having a written will to make sure everything is legally taken care of; life insurance is an option. This ensures you are looking after the whole family, even your partner.
So, my husband and I went ahead and did just that. We looked into reasons why having life insurance as a stay-at-home spouse is beneficial. Do you know what we concluded?
Stay at home spouses need life insurance more than you think!
Here's 5 reasons why!
1. Think of replacing the value of their labor
2. Funeral expenses
3. Any unpaid debts
4. Future expense like a loss of salary if you plan to return to work
5. Lastly, financial peace of mind for family members
Keep in mind that, as SAHS's we are the reason our family's function and thrive on a daily basis. We work 24 hours a day! There are no potty breaks or sick days or even breaks to simply take a moment to yourself. It's important to understand the value our job holds even though as a stay-at-home spouse you aren't bringing home a paycheck. If something were to happen to you, will your family members be looked after?
Hoping I was able to shine a light on a topic you don't really think about, especially for those new mama's who do their best to plan ahead. If you have questions regarding life insurance look out for my next blog post!
- That Edgy Momma
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