Life insurance is not a legal requirement for Orleans, IN residents, but many voluntarily choose to invest in this financial instrument for its benefits. A question often asked is whether a stay-at-home parent needs to consider this indemnification.
Suppose you or your spouse is currently staying at home. In that case, a life insurance policy can help ensure that burial costs are taken care of, alleviating your family of this financial obligation at a difficult time. A one-income family can sometimes be disadvantaged when trying to save for these contingencies.
The parent, who is the children’s primary caretaker, provides many needed services that are difficult to replace. Their passing will usually create immediate uncertainty with scheduling, as the breadwinner will still have to maintain their job and working hours. Your knowledgeable Busick Insurance Agency LLC can answer your specific questions as to the types of coverage we offer.
Driving children to school and other activities, along with evening childcare, will need to be carried out by someone else. A death benefit can help bereaved spouses juggle these responsibilities after their partner’s death. Meal preparation, cleaning, homeschooling, and laundry, are other tasks that may need to be outsourced as well.
Educational costs can also be paid for with life insurance, benefiting children into the future. This can be a way for a stay-at-home parent to generate an inheritance for their offspring. You may want to calculate the projected costs of maintaining your current or expected family size should your partner pass away.
Busick Insurance Agency LLC Can Help You
We serve those living in and around Orleans, IN, and can personalize an insurance package to meet you and your family’s needs. Contact us by browsing our website, calling us on the phone, or meeting with us in the office.