Mother Needs Life Insurance

Life insurance. It’s the sort of thing that can be stressful to work through, but it’s also one of those things you absolutely should figure out, especially if you have kids – and whether you are an income-earner or not.

Raising a family means protecting your family at all costs, and if the legacy you envision is full of happy memories of good times growing as a family, you’ll want to make sure those won’t be overshadowed by financial debt and worry after your death.

Here’s why life insurance is for every mom, including you:

1. If you bring income to the family, life insurance can help cover costs related to your mortgage, childcare expenses, and maintaining your family’s standard of living. Think about what would happen if your earnings were suddenly taken out of the mix because you are no longer there to provide, then look at how life insurance can help make up the difference.

2. If you’re a stay-at-home mom, you are still bringing financial value to the family. Many of the things you do for “free” would need to be outsourced in your absence. So although the work you do is technically priceless, you can calculate how much it would cost to pay others to do what you do. Don’t make the mistake of thinking life insurance is only for the breadwinner.

3. Debt and the death of a spouse or parent are stressful in any circumstance, and combining the two can create a maelstrom of emotional strain. Life insurance can help your family tackle existing debt, as well as make sure they don’t accumulate more in the aftermath of your passing.

4. Life insurance helps pay for end-of-life costs, including funeral expenses and medical bills. Having a plan in place to pay for these things will give your family much needed peace of mind.

5. Many people calculate their life insurance coverage to include college expenses for their children. Even if this seems like a long way off, keeping it in mind now can ensure the dreams you have for your kids live on after you’re gone.