This post was sponsored by MetLife as part of an Influencer Activation for Influence Central and all opinions expressed in my post are my own.
Are you wondering “Why Have Life Insurance?” if you’re a Stay at Home Mom? Here are 5 good reasons to consider life insurance for yourself.
I admit, it’s not my favorite subject, but it’s something we have to discuss as adults and what better way than to discuss it with knowledge and preparedness. Did you know only about half of women today have life insurance*? But, we as women need life insurance just as much as men. Today I’m sharing 5 reasons why, even as stay at home Moms, we should be prepared and have a life insurance policy for ourselves.
Prepare so your family doesn’t have to.
We do everything for our family. I bet you’re just like me – doing their laundry, picking up after them and their toys, cooking dinner… so let’s add one more thing to our list. But don’t fret, MetLife has made it easy for us with MetLife Rapid Term life insurance. Applicants receive a yes/no decision about coverage and a quote in real-time online or by phone, making it a great solution for busy women to get life insurance they can depend on.
Because it can happen to you.
I know everyone knows this, but my life was hit hard last year. We’re coming up on the 1 year anniversary of my father’s stroke. It affected our family tremendously because my parents live with us in our home. Not only was he in the hospital for close to a week, but followed up in an in-patient rehab facility for a few weeks after that.
Thankfully he bounced back and is healthy and happy at home again, but it was a real wake-up call to all of us that our time is short and precious.
Calculate your “earnings” from working in your home.
We’ve all seen that meme floating around that calculates what a Stay at Home Mom’s salary should be, based on her work load, right?! It’s a comical look at just what all we do every single day. But it’s a reality too. If something were to happen to me, even though I’m not the main income earner of my family, it would definitely have a big financial impact.
A few different ways this could affect a family are:
- A spouse could require time away from the workplace for bereavement or estate issues, resulting in income loss.
- A spouse could need to move to be closer to family support, which could come at a substantial expense.
- In the event a woman is a stay-at-home mom responsible for child care, that care may need to be replaced. The average cost for a four-year-old in center-based child care is nearly $13,000 a year or approximately $1080 per month, with costs of care ranging much higher for infants**.
Work from Home? You’ll need to count that too!
I consider myself a stay-at-home mom, but if I’m being technical I should probably go with work-from-home mom. This makes a significant change in my income as I’m a part-time blogger and have other “side gigs” too. From the looks of my Friends list on Facebook, I’m not alone either!
Today, women make up nearly half of the workforce and many generate significant income for their families through freelance and part-time work. Yet, most often when you’re in these type of freelance roles, you don’t have access to life insurance through an employer like your spouse does.
Because it’s easy and affordable.
Fortunately, MetLife has created a simple term life insurance product that provides up to $500,000 in coverage, without an in-person medical exam or requests for fluids, like blood and urine, ever, just a handful of health questions. If you find yourself asking the question “Why have life insurance?” that means you probably should have it as a stay-at-home mom! I encourage you to think about these reasons and get a quote from MetLife for this simple term life insurance policy.
For more information on the full terms, conditions and limitations about the MetLife Rapid Term product, I encourage you to look at MetLife’s MetLife Rapid Term website.
*LIMRA Life Insurance Ownership in Focus, U.S. Person-Level Trends: 2016
**Child Care Aware® of America, Parents and the High Cost of Child Care: 2016