Insuring a Non-Working Spouse

Presented by Jim Linn Have you ever considered the cost to replace a stay-at-home spouse?  According to an article on http://www.businessinsider.com/value-of-stay-at-home-moms-2013-5 that value is in excess of $100,000 per year.  Consider the fact that the role of a stay-at-home spouse encompasses cooking, cleaning, errand running, chauffeuring and child care along with a list of additional daunting day to day tasks.  In the absence of this individual, the surviving spouse would be faced with the costs to hire someone to assume these duties.  Life insurance can provide a lump sum benefit that can provide the needed income to cover these costs.  Even though the non-working spouse does not receive a pay check there is still value in what they do and insurance carriers recognize that.  The amount of life insurance that can be placed on a non-working spouse varies by carrier and is anywhere from half of the working spouses amount of coverage up to 100% of the working spouses coverage.  As you meet with families that have a non-working spouse be sure to educate your clients on the value of a non-working spouse.  As always, your life marketing managers are here to assist with any questions you may have.  You can reach them at 1-800-397-9999.