Many people assume that life insurance is only for the main income earner of a family. While it’s true that Florida life insurance is generally used to replace lost income if a wage earning family member dies prematurely, have you considered the impact that the death of a stay-at-home parent would have on the family finances? It may be worth considering taking out life insurance for both parents when you take a look at what the costs could otherwise be.

In the event that the main caregiver passed away, the remaining (wage earning) parent would be left with the choice of either reducing or giving up work to take care of dependent children, or paying for childcare, both of which could have serious financial implications. When you consider the cost of hiring a cook, nanny, cleaner and a personal assistant to take care of household administration, the bills would be in the tens of thousands, if not more.

Insuring the stay-at-home parent could help make sure that these costs would be taken care of without significantly impacting the family lifestyle. Contact one of our agents to discuss taking out Florida life insurance for both the income earning and stay at home parents. After all, what you contribute to the household is equally important!

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