Life Insurance for Stay-at-Home Parents

Life insurance for stay-at-home parents is just as important as life insurance for workers. Homemakers provide a lot of value to a family. It has been estimated that stay-at-home parents provide a value comparable to a $160,000 annual salary. Read more to find out why it is so important for stay-at-home parents to have life insurance coverage and how to find the best life insurance quotes for stay-at-home parents.

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Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health in...

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Benjamin Carr was a licensed insurance agent in Georgia and has two years' experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

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Reviewed by Benji Carr
Former Licensed Life Insurance Agent

UPDATED: Jul 19, 2021

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Quick Facts

  • Many may think you need to be earning income to get life insurance, but stay-at-home parents provide a lot of value to a home and a child’s life.
  • Just because you are not the “breadwinner” does not mean you are not an important provider for the family.
  • Childcare and housekeeping can be big expenses if there is no one to do them.

A lot of people think that to get a great life insurance policy you need to be earning income. The mistake most people make is to assume money is the only value that can be provided or added to a family. This is simply not true, and life insurance for stay-at-home parents is crucial.

The real question is how much life insurance do you need as a stay-at-home parent?

Stay-at-home moms and dads provide a lot of value to their families. They take care of the children, the house, pets, and any daytime chores or tasks that need completing. Hiring people to do these things can be very costly depending on where you live.

Clearly, stay-at-home parents provide value to their families and their contributions would be sorely missed if they were to pass away prematurely. That is why stay-at-home parents need life insurance coverage.

When you’re ready to start comparing life insurance coverage, enter your ZIP code above to find affordable life insurance for stay-at-home parents. Not yet ready to buy life insurance for stay-at-home parents? Read on.

What about life insurance for homemakers?

Whether you go to work everyday or stay at home, you need life insurance coverage to protect your family. Most people get term life insurance coverage to protect income, but a lot of people overlook the amount of work and value  provided by a stay-at-home parent.

What would happen if this person passed away suddenly? How much value would the family lose? When you think about all the value added by a homemaker or stay-at-home parent, it becomes more and more obvious that this parent needs to be insured too.

Life insurance policies for stay-at-home parents can be real lifesavers in the event of a sudden death. Don’t underestimate the amount of value added by a parent who stays at home.

Why should mothers be insured?

The majority of stay-at-home parents are women or mothers. Oftentimes, these women aren’t covered by life insurance policies. It is often assumed, erroneously, they don’t provide any value that can be insured. This couldn’t be further from the truth.

Here’s some more information to consider.

It is estimated that stay-at-home moms would make the equivelant of about $160,000 in annual salary for all the various tasks and jobs they complete.

The role of the stay-at-home mom cannot be easily put into any one box. These women complete a number of different tasks daily that would cost a significant amount of money if it had to be paid for.

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This table shows average life insurance rates from the top 10 providers based on age and gender.

Average Monthly Life Insurance Rates by Age
AgeAverage Monthly Rates for a Male, $100,000 PolicyAverage Monthly Rates for a Female, $100,000 PolicyAverage Monthly Rates for a Male, $250,000 PolicyAverage Monthly Rates for a Female, $250,000 PolicyAverage Monthly Rates for a Male, $500,000 PolicyAverage Monthly Rates for a Female, $500,000 Policy
25$11.03$10.02$22.10$12.91$23.19$19.04
30$11.12$10.07$15.31$13.02$23.85$19.26
35$11.12$10.07$15.42$13.02$24.07$19.26
40$12.65$11.12$17.94$15.21$29.10$23.63
45$14.57$13.31$21.55$19.69$36.32$32.60
50$18.60$17.20$30.19$27.02$53.60$47.26
55$24.51$20.61$42.88$34.35$78.98$61.91
60$35.88$27.48$71.10$50.86$78.98$94.94
65$51.06$37.76$109.82$75.14$212.85$143.51
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Insurance companies understand the value stay-at-home parents provide and offer great policies to cover their life.

What about life insurance for new parents?

New parents have a lot of added responsiblity on their plates. They may not even be considering life insurance, but with a new addition to the family, life insurance has never been more important.

Protect your new child and get life insurance coverage for both parents. Regardless of who works and who stays at home, life insurance coverage is vital for both parents when raising children. Don’t wait! The sooner you apply for permanent life insurance coverage, the better your rates will be.

Do stay-at-home parents need to apply for life insurance?

As we have demonstrated, stay-at-home parents provide a ton of value to their families. They need to be insured just as much as working parents.

You can get great life insurance policies even if you are a stay-at-home parent. The value you provide is comprable to roughly $160,000 a year. Don’t waste time.

Interested in life insurance rates for stay-at-home parents?

To find the best life insurance for stay-at-home moms and dads, start comparing life insurance rates today, and enter your ZIP code below to compare life insurance quotes in your area.

Which life insurance company for stay-at-home parents is best for you? Find out now.

References:

  1. fatherly.com/news/stay-at-home-parents-salary/

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