CHARLOTTE, N.C. — A new study reveals stay-at-home parents would earn $184,820 if they were paid an annual salary.
The report calculated this taking into account their care of their children, cooking, cleaning, planning and project management.
USAA said if suddenly the financial provider was out of the picture, it could leave families who are unprepared in a complicated situation.
"A lot of times, people who have jobs, they may have life insurance through their employer," USAA Communication Director Rebecca Nelson said.
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But what if you don’t hold a traditional job that provides that? Or if you suddenly lose access to it?
Nelson said, more often than not, stay-at-home parents don’t even think to open a life insurance policy, but, in the event the working spouse were to pass away, the surviving parent would have to pay someone to take care of the children and household so they could support their family.
While discussing life after death can be uncomfortable, Nelson thinks it's an essential conversation all families should have.
"It can also set them up for the future," Nelson explained. "So, long term, if I have a life insurance policy, in 100 years, when I'm not here anymore, then that's something that they can take and really help their future families with."
Young, healthy parents who think they don't need life insurance policies are actually the perfect target audience for one.
"The younger you are, the healthier you often are, and if you get that life insurance policy locked in now, you have it," Nelson said. "You know, life hands you a bunch of twists and turns."
Nelson said if you are a working parent and already have life insurance through your employer, it's also worth considering opening a second policy with your preferred bank.
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