“I’ve been to a lot of tangi…you see the struggle.”Carli Te Hira
$500,000 Life Cover for $26.12 fortnightly
“Policies were easy to follow and a good price.”David Bloomer
$500,000 Life Cover for $16.43 fortnightly
“You think it’s not going to happen, but it does...”Leanne Ellis
$350,000 Life Cover for $11.48 fortnightly
“…less difficult than I thought it would be.”Zoe Evans
$459,000 Life Cover for $22.02 fortnightly
“It feels good to know it’s done.”Sarah Gatjens
$250,000 Life Cover for $9.77 fortnightly
I don't have an income - do I need life insurance?
Posted on 9 June 2014
It’s fairly well known that most people who earn an income and look after a family or dependants should consider having life insurance in place. But what about people that don’t earn an income and still have dependants that rely on them for care – such as stay at home parents?
Unfortunately, many stay at home parents underestimate the financial worth of all the daily tasks they undertake. Consider everything that a stay at home parent does each and every day. The cooking, cleaning, laundry, shuttling kids around, providing child care - the list can be endless. What if you were no longer able to carry out these responsibilities?
What would it cost to cover your daily tasks?
If you put together a list of everything you do on a daily basis and allocate a dollar value to each task, you’d be pretty surprised at how expensive it can all get! Even though you may not earn a regular income, replacing what you provide to your family could come at a very high price. This is where life insurance for a stay at home parent can be crucial.
How much you should get depends on your situation. As a starting point, consider the costs of covering the tasks that you carry out for your family on a regular basis and the length of time you’d need this cover to be available for, if you were no longer able to carry out these tasks.