Being a stay-at-home mom is one of the toughest jobs possible. She has to balance the chaos and confusions of the daily life that starts at her home early in the morning, the ringing alarms and phones, cooking and then serving breakfast to her husband and children, getting the children ready for their school and much more. We also should not forget about running errands, getting the dinner ready, attending the parent-teacher meetings, helping the children with their home tasks, handling the after-school activities of her kids and then finally manage a few hours of sleep for herself. So a stay-at-home mother on an average works about 100 hours every week or 96.6 hours to be extremely precise, as per the report published by salary.com, which is more than $115,000 every year.

 

happy family packing things to car at home parking

What is the monetary value of a stay-at-home mom’s work over a period of 20 years?

If you want to calculate the economic value of a stay-at-home mom for a period of 20 years starting from raising a child, till the time the daughter or the son graduates from a high school and attends a college, the total estimated amount on the basis of a salary that is equal to $115000, would be about a whopping $2.3 million. We are trying to focus on the necessity of a life insurance policy for a stay-at-home mother, as she is completely indispensable to the family. It is quite expensive to fill the gap both personally and economically after she passes away. Though the personal loss of a stay-at-home is irreplaceable, the economical loss can be replaced to some extent if she has a life insurance cover that is at least equal to or more than the average sum that has been mentioned above. Thus, it is immensely vital for a stay-at-home mom to have life insurance coverage similar to that of the primary breadwinner of a family.

Ensure the financial stability of a mortgage and a family

Another crucial factor related to life insurance for a mom who stays at home is to properly understand the amount of money that will be required for maintaining the financial stability of a family and the mortgage. It also makes sense to find out which are the companies that is fast in issuing life insurance coverage on your behalf. For instance, if you have a mortgage amounting to $250,000 and you are a stay-at-home mom with three kids, you will require a minimum of $500,000 for your life insurance coverage.

Andrea King
  • andrea@aginto.com
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Andrea King
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  • andrea@aginto.com
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