Tuesday, May 26, 2020

052620 Stay-at-Home Parents Need Insurance Too



Mike and Stacy have been married for ten years, and for most of that time
Mike has been lucky enough to stay home with the kids while Stacy has
been the primary breadwinner. While Stacy earns a good living, she would
struggle to cover the cost of a nanny or other childcare provider if something
 were to happen to Mike.

Mike provides a variety of services to the family. He takes care of childcare,
transportation, managing the household and their finances. He also deals with
repairs and maintenance for their home. Mike also earns a small income doing
 handyman services around the neighborhood.

They decide that in the event something happened to Mike,
a life insurance policy would ensure that Stacy would have enough money to hire the
necessary help or take a few years off to stay at home as the family learns to cope
with the loss.

Stacy purchases a 20-year term policy with a death benefit of $750,000 that will
give her the financial means to replace the services Mike provided for the family as
well as cover the cost of sending the kids to college.

- Jessica Huneck

https://haydenchilds.net


 

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