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Ask Dave

Life Insurance for Stay-at-Home Mom?

A stay-at-home mom is looking at life insurance plans.

QUESTION: Alisha is a stay-at-home-mom and asks Dave what he recommends in terms of life insurance. She has a whole life insurance policy right now but doesn’t like it.

ANSWER: Whole life insurance is a rip-off.  Cancel that policy immediately.

When it comes to life insurance, term life is the best way to go.  To figure up how much you need for a stay-at-home mom, roughly add up how much the work you do (cooking, cleaning, laundry, child-care) costs per year.  Take that total and multiply it by 8 or 10.  That's how much life insurance you need. If something were to happen to you, your husband could use that money to replace the all jobs you do.

Do You Have the Right Coverage? 

Do You Have the Right Coverage? 

Find out with our free 5-Minute Coverage Checkup!
Take the Coverage Checkup

Do You Have the Right Coverage?  

Find out with our free 5-Minute Coverage Checkup!
Take the Coverage Checkup