I never used to worry about life insurance, or looking for a life insurance calculator online. I didn’t have to, when I was working I had some pretty awesome life insurance, and didn’t need a life insurance calculator. My employer offered me a awesome life insurance policy, and that was that. I had it, my family was take care of, and I didn’t have to worry about the “what if’s”. As many of you know I recently left my job, which means no more life insurance for me.
Like many of you, my family is my world. They are the reason I do everything I do. Like most parents I want to be sure my kids experiance a great childhood, and grow up having the knowledge and skills they need to become successful. I want to point them in the right direction, be there to pick them up when they need it, and offer an ear when they need to talk. We want to always be there for our children. Sadly we have to come to the realization that we’re not always going to be here, and there is nothing that states we will be here tomorrow. I remember being a teenager, I seriously though I was immortal. Now that I’m married, and a mother to four amazing children I think about these things. I can only think of one thing worse than leaving my amazing children, and sweet husband behind, and that’s leaving them behind financially stressed. It’s a scary thought, but it’s worth thinking about.
Being a stay-at-home mom I think less about life insurance, and more about my family. When I read an article called – Why stay-at-home parents need life insurance, and it hit me like a ton of bricks. I suddenly realized that I needed to look for a life insurance calculator, I didn’t have life insurance anymore. OUCH! Typically I’m on top for things like this, but it’s always been easy. My employer pretty much did everything for me. Now I have to slip on my big girl pants, and learn about life insurance, and what type is best for my family.
Have you ever stopped to think whether or not your family would be financially stable without you? Would there be a need to pay for sitters, someone to drive kids to school, practice, or other events. What about laundry, or cleaning the house. These would all be things left to your spouse, how would they handle them? Would they need help? Would there be enough money? How would financial stress affect your spouse on top of emotional stress loosing you? I agree, I don’t want to think about it either. We have to, this is our family, the reason we wake up and do the things we do.
How Much Is Life Insurance?
Did you know that Term Life Policies can be affordable? $1 million in coverage can cost less than $1,000? Of course that is depending on age, healthy, and other factors, but it’s enough to help me see that it’s affordable. It makes sense for stay-at-home moms to have life insurance, at least while we have kids in our home.
Life Insurance Calculator
It’s worth getting a quote, don’t you think? If you’re interested in learning how much life insurance will cost you I have good news. Genworth has a fabulous Life Insurance Calculator to help you see how affordable life insurance is.
I spent time using the life insurance calculator, and was surprised to learn that $25 a month could get me about $750,000 life insurance policy. I do realize the life insurance calculator is only a starting point, but it helps me feel better about the situation. When I talk to a Genworth Insurance Agent I will go into it knowing there is a life insurance policy that will fit my needs, as well as my budget.
I already have an appointment set for next week to talk to someone about life insurance. Even if it’s just a little coverage to start out with, I’m never going to know unless I just do it. Something is better than nothing. Not to mention I will feel like I’m doing something positive for my family, and can stop stressing about life insurance. I do stress about this type of thing; BIG TIME. My husband tells me too much, but I don’t agree with him at all lol. See that’s where we complement one another I stress he, doesn’t. I help him to understand why I’m stressing, he helps me calm down, and make sure my blood pressure isn’t skyrocketing over it lol.
This is never a fun subject, but it’s something we need to think about for our family. Do you have life insurance? Be sure to check out the Life Insurance Budget Calculator. You can also visit Genworth Financial to learn more about life insurance.
“Information for this post is sourced from Genworth Financial in partnership with the SheHeard Influencer Network.”
10 comments
It is definitely crucial for moms to have life insurance even if they are no longer working. They have a value financially in watching children. Without the help at home, it could cost thousands per month to have someone to do it. Life Insurance for Moms is just as important as for dads.
I have a whole life policy I bought when I became a single mom 10 years ago. My reasoning was I wanted something for my kids’ future should something to happen to me. I’ve kept it as a SAHM because if something happened to me now, my older boys would have to go back to their dad’s, and my husband would have to pay for childcare for our son, my funeral expenses, etc. Were something like that to happen, the last thing I’d want my husband to have to worry about is how he’s going to pay for it all.
I so agree with you. I have been a stay at home mom for 3 years and we have 2 young children. You still have funeral expenses, the cost of daycare (since you are staying home with the kids). I couldn’t imagine not having this if something happened. I don’t want my husband to have financial stress along with other things.
I used to be a Branch Administrator at MetLife, I think that it is best to get a Whole Life Policy, even though it cost’s more it will never run out like the Term Policy’s will, and if you get a Paid Up Policy it will eventually pay your Premiums for you and earn Cash Value which you can borrow from if needed. But thanks for posting information like this as I think that it is very good idea to get Life Insurance and Disability Insurance when you can because the older you get the higher the premiums. But should anything happen to you, you will be covered.
Thanks again.
You are so righjt Jenn. I am 49 and had life insurance for 20 years and then things got tough and I had to let it go. NOW I find out that the older you get the more it costs. Thank you I am gonna try to look into this.
I have an expensive life insurance poicy that will probably not be worth moe than I have paid into it, so I am considering dropping it. I have no children at home and have assets to pass on.
im a stay at home and i am 40 i need health insurance my husband has it with his job but doesnt for the spouse we are on a tight budget because of one parent working we are a family of 4 i we have a special needs child also the kids thank god are insured but im the only one who is not
I totally enjoyed reading your article on stay-at-home mom needs life insurance because you were not only super honest ,realistic and funny but you opened my eyes!!! WOW ! I really will be calling Genworth and get my butt in gear, being a single mother with 3 children. Thank you so much for your honesty and the eye opener! Good luck to you and you family!!
I have life insurance. I’m a widow, with a grown child, and my beneficiary is my kid brother. It’s strange to realize that you’re worth more dead than alive! : O
I don’t have children, si I don’t have life insurance…I never really thought about it, actually, but maybe I should get some for my nieces and nephews.