Have you seen the cost of childcare lately? Add that along with housekeeping, food preparation, home accountant, and school transportation. From that list alone one can see how much a spouse really contributes to the household budget. It is estimated a non-working spouse contributes at least, but usually more, the equivalent of a full time job. For this reason it is important to buy life insurance for everyone in the household if the absence of their income would cause a financial hardship. For more tips check out The Top Ten Insurance Myths You Need to Know!
Insurance Tip for the Weekend: Get Life Insurance for Your Non-Working Spouse
By Bobbie Sage, About.com GuideJune 9, 2007
Explore Personal Insurance
©2012 About.com. All rights reserved.
A part of The New York Times Company.
That’s an excellent suggestion! The stay at home parent really does contribute so much, they don’t get paid, yet the service s and responsibilities are invaluable. Again, an excellent suggestion. Always think of the little ones