The Financial Impact of Stay at Home Moms
The stay-at-home-mom is not often viewed as a role with a financial value. Mothers care for their children, the home, their spouses and anything else that needs attending to. If an ad was posted in the paper with the purpose of hiring a stay-at-home mom, what requirements would be included, and how much would the pay be? The hours are 7 days per week, 24 hours per day for starters. Although not often considered, there is an actual monetary value to the things a mother provides for the family. This value may only become known in the instance that the mom is not there any longer, thus highlighting the need for stay-at-home moms to have life insurance policies.
Does a stay-at-home mother need life insurance?
The extent of tasks that mothers who stay at home with their families complete, are often extensive. Stay-at-home mothers take on practically every single role that is known to mankind: homemaker, educator, psychologist, child care specialist, cook, do-it-yourselfer, event organizer, taxi driver, nurse, and the list goes on and on. Yet, most mothers are unpaid for these various roles and it is just seen as daily life.
It is often assumed that a stay-at-home mother doesn’t need life insurance because she does not provide money that would be lost in the instance of her passing. However, the many roles that a mother fills would leave a deficit in the budget, as those duties would have to be filled by someone who receives compensation.
What is the worth of a stay-at-home mother?
Mothers perform their everyday tasks without being paid for them, and tend to do a lot for nothing. So, if they were given remuneration for their work, how much would their work really be worth? In a survey conducted by the website Salary.com, it was found that a homemaker’s annual worth in dollars is close to $113,000. That translates to a monthly income of $9,400. This calculation was just considering the basic tasks that a stay-at-home mother performs. Other additional chores and assignments, such as homeschooling their kids or providing special medical care for family members who need them, are not yet taken into account.
All in all, if being a stay-at-home mother was an official job, it would be quite expensive. This means that a family may come out ahead in terms of expenses when the mother is present and in the home. It also means that a family should be prepared for the unfortunate circumstance that the stay-at-home mother cannot provide all of these things for her family. From hiring babysitters, to house cleaners, to eating out; life would get expensive very quickly.
Nowadays, some life insurance companies are offering premiums for those who choose to become homemakers or stay-at-home mothers. Recognizing the large value a stay-at-home mother provides is key to ensuring the family will be cared for in her absence. Let us help you find the right coverage for your entire family by contacting us today.
If you are at a stay at home mom, or if you are married to one; the financial impact that would result from an unexpected death would be devastating for your family. Call, email us, or simply check out just how affordable it would be to protect your loved ones today. For a free no obligation click term life insurance quote. For a life insurance plan that does not require an exam select no medical exam term life insurance and compare rates now.