Stay-at-home parents need life insurance too

Stay-at-home parents need life insurance too

As CEO of the home, a stay-at-home parent brings significant value to the family caring for children and household while the other spouse works outside the home. 

According to’s 2018 survey1, a stay-at-home parent balances 94.71 hours of work as a cook, a housekeeper, a chauffeur, a "personal life coach," and much more.

Converting all of the work the stay-at-home parent does into a salary means the parent would earn $112,9621 annually.

Salary replacement

If the stay-at-home parent passes away, not only would it be devastating emotionally, it could also cause a significant hit to your budget if you had to add in day care services, house cleaning services, time off work and other expenses.

While the total sum of these costs may not equal $112,962 per year in all cases, salary replacement of the stay-at-home parent is still an important reason to secure coverage.

Consider life insurance

Life insurance is designed to help protect and provide for your loved ones. In many families, the parent working outside the home has life insurance to help try to replace some of the income that may be lost. But what happens if it’s the stay-at-home parent that suddenly passes away?

In addition to paying for funeral expenses, the life insurance can help replace some of the 94.71 hours of work such as day care or carpooling services.

One cost effective option is term life insurance which can provide a large death benefit to cover the household for a specified time period 10, 15 or 20 years at an affordable premium. After the term period, many carriers offer flexible conversion privileges to permanent life insurance, providing options when the term period is up or when a particular age is reached.

Next steps

For many families, paying a small amount each month for life insurance can help provide that peace of mind knowing that life insurance can help provide some financial support whether you are the stay-at-home parent or the working parent.

For more information, contact your Ohio National financial professional.


1 2018 Mom survey

Life insurance is issued by The Ohio National Life Insurance Company and Ohio National Life Assurance Corporation. Guarantees are based on the claims-paying ability of the issuer. Loans and withdrawals may reduce the death benefit, cash surrender value and any living benefit amount.

Products, product features, and rider availability vary by state. Issuer not licensed to conduct business in NY.