I love this goofball. Beardo and all. The thought of something happening to him makes my stomach churn (and not just because he brings home the bacon. Promise.)
While the emotional toll of his passing would be far greater than the financial toll, there’s only one of those factors I have some control over. We have a life insurance policy for Hubs that will help replace his income while we recover from our loss. Until using Genworth’s Life Insurance Budget Calculator, I didn’t realize we don’t have the recommended dollar amount on Hub’s policy.
So number one on our life insurance to-do list is:
1.Raise Hubs’ coverage amount.
2.Take out a life insurance policy on me.
I may not be the breadwinner, but the loss of a stay-at-home mom hits a family hard financially. There’s no doubt Hubs would miss my companionship, razor-sharp wit, and beautiful face first and foremost (*ahem*) but how about all the money I save him each day? Because of me he doesn’t have to hire a housekeeper, cook, nanny, chauffeur, accountant, personal assistant…the list goes on. If you wanted to quantify financially what I do on a yearly basis for love rather than money, my salary should average around $112,000 according to salary.com. If that isn’t enough to convince you, check out this article on why stay-at-home parents need life insurance.
Do you have a life insurance policy in place for you and your spouse? Have questions about where to start? Wondering how much coverage to apply for? Check out Genworth Financial to start planning today.
This post is brought to you by Genworth through Brandfluential. All opinions are my own.