Six months ago, almost to the day, my mother became a widow. For both of us it was unexpected and a harsh dose of reality. That day, we were both reminded that life is precious, life is short and it rarely happens the way you expect it to. Truthfully, my sister and I had always assumed our mom would die first. We certainly didn’t want either of our parents to ever die but it was just an educated guess given the medical complications she had experienced. We were both very wrong.
In the days following his death we were left to mourn, plan a memorial and worst of all, deal with the financial stress and paperwork that comes with losing someone close to you. Fortunately, my parents had planned for the inevitable.
Something I hadn’t expected was for his death to prompt my husband to start a conversation about which of us might die first and how the surviving spouse would continue to live. That conversation led to some online research and the “Why stay-at-home parents need life insurance” article caught our attention. Up until now, we hadn’t even considered the likelihood that I, the stay-at-home-mom might die first or even that I could die before our three children had grown up.
When you think about it, a stay-home-mom does provide a significant financial contribution to the household, even if it doesn’t include a check in the bank account. Without me, my husband would be faced with the burden of hiring childcare services and possibly even nanny services to help with the cleaning, cooking, shopping and other small tasks that he doesn’t have time for as the working parent.
That reality prompted us to examine my current life insurance policy, which happens to be very inadequate. We visited the Genworth life insurance website to learn more about our needs and even used the life insurance budget calculator to find ways to cut our lifestyle costs so we can delegate more money for my life insurance policy.
I’d love to hear from fellow stay-at-home moms … do you have a life insurance policy that will help your husband maintain a comfortable lifestyle after you’re gone?
This post is supported by Genworth through the Brandfluential blogger network.