Imagine the cost of hiring a part-time housekeeper, a personal chef, a day care provider, a psychologist and a driver. You’d have to be pretty wealthy, right? Stay-at-home parents perform all these jobs, and they do it without getting a paycheck. Sometimes they don’t even get to take a sick day.
Imagine how much money a stay-at-home moms or dads would make if they were paid for their work. Think about the amount of time spent on housework, cooking, transportation and childcare. According to a recent study by Salary.com, the average amount of time spent working as a stay-at-home parent is 94 hours per week1! Now imagine the loss of a stay-at-home mom or dad – it would be emotionally devastating and could put the family’s financial security at risk.
Not enough time in the day
With one parent working outside the home and the other possibly putting in over 90 hours a week, it’s not surprising that there is little time left to plan for the family’s financial future. If this sounds familiar, you’re not alone. While your family’s needs and goals are unique, your battle to find time to protect what you have is shared.
One of the most important things you can do to protect your family is to make sure a stay-at-home parent is insured.
If you would like more information on how much life insurance is right for you and your family, please contact me.
Policies issued by COUNTRY Life Insurance CompanyŽ and COUNTRY Investors Life Assurance CompanyŽ, Bloomington, IL. Coverage not available in all states. Read our full disclaimer.
1 Salary.com, 2013