Insurance Jeopardy! Part 2
Guys – we get that insurance can be difficult to get the hang of. That’s why we created this new blog series featuring, Jeopardy! Greatest of all Time. These blogs will challenge your thoughts AND help you WIN a new understanding of all things insurance. It may seem like you’re having fun here. But in the long run, being aware of these terms will help you protect your family and understand the what and the why behind your insurance needs.
So… Let’s get started!
All of these are expenses that cost families thousands every year. This blog will help you determine the true value of a stay-at-home spouse and why they too need life insurance. People tend to think that since they don’t have a job, they don’t need the same kind of coverage that the “breadwinning spouse” has. However, the true value of what a stay-at-home spouse brings to a household is invaluable.
Overarching Question: Why does my stay-at-home spouse need life insurance?
Stay-at-home spouses can save you $$
What is the financial value of a stay-at-home spouse?
Families with a spouse who stays home save hundreds of dollars a month on expenses such as groceries. They can provide meal planning which cuts the costs of several trips to the grocery store in one month. They can help with couponing/personal shopping which saves families a lot of money. Stay-at-home spouses can also help costs by cooking at home. The cost of eating out every-other-day adds up. The Simple Dollar says that the average American spends $232 per month. Can you imagine the cost of a whole family?
Childcare. This alone costs families thousands. According to Very Well Family Publishing Co. childcare costs the average family about $972 per month.
The necessity of healing in the loss of a caregiver
What is grief counseling?
It’s not fun to think about – but, it’s a necessary factor when questioning your spouse’s coverage. If your spouse is your children’s primary caregiver, their loss will take an emotional toll on your children. Looking into the cost of counseling services should be a strong element in this decision. Your children may need counseling in order to heal in the healthiest way. Your spouse’s life insurance could help your children receive the kind of care they need to protect their mental health in times of tragedy.
That’s a wrap on Part 2 of Insurance Jeopardy! Stay tuned in for another round. Don’t forget to contact our team, Robbins Insurance Group with any questions you may have!
Published by Blake Robbins and Emma Simmons