Life Insurance for Stay-at-Home Parents

Stay-at-home parents need life insurance too.

The economic value of a stay-at-home parent — childcare, cooking, cleaning, transportation, household management — is estimated at $50,000–$100,000/year.

If a stay-at-home parent dies, the surviving working spouse must either reduce their work hours or pay for these services. A $500,000–$1,000,000 term policy on a stay-at-home parent typically costs $25–$50/month. This is one of the most overlooked gaps in family financial planning..