Life insurance for stay-at-home moms

When people think about life insurance, many assume that only the family breadwinner should be the life insured. While that’s important, don’t underestimate the value of life insurance for those whose “worth” is invaluable – stay-at-home  moms.

How life insurance can be invaluable for stay-at-home moms

If you’re a stay-at-home mom, you’re the heartbeat of your home. Also, while you might not be bringing in a direct income, you’re still providing significant financial value via an often seemingly endless stream of unpaid work. Just think about it – if you weren’t around to see to important things such as childcare, housekeeping, homework or transport, how much would it cost to pay someone else to do it?

Also, while you might not be working right now, you never know what the future holds for your family. What if your family’s circumstances changed in a way where you’d be required to help bring in more income?

Clearly, nothing in life is certain, but if you’re looking for peace of mind, life insurance can go a long way towards enjoying it by helping to create a financial safety net for your family. It’s a way of making sure that, even in the event of your passing, your loved still have the means to cover immediate expenses related to your absence and even realise long-term financial goals.

All MiWayLife policies include additional benefits

At MiWayLife, we like to keep things simple. For an affordable monthly premium, you’ll be offered a coverage amount of your choosing that’s paid out in a lump sum to your beneficiaries in the event of your passing. The cover under this benefit will grow by 5% each year.

Our 4-in-1 policy also includes a funeral benefit, terminal illness benefit and funeral cover for you and your family members – all for one premium! As our funeral benefit is accelerated, it pays out a fast. The amount will be 10% of your total cover amount (capped at R50 000) and, as this amount is separate to your life insurance cover amount, your loved ones won’t have to dip into your life insurance cover to give you a dignified farewell.

As for our terminal illness benefit, this allows you to access a portion of your life cover early if you are diagnosed with a terminal illness with a prognosis of less than 12 months. This can help you cover medical expenses or make other financial arrangements, greatly easing the burden of end-of-life expenses.

The bottom line

If you’re a stay-at-home mom, don’t underestimate the value of everything you do. While we don’t like to think of a world in which our family has to carry on without us, there are no guarantees. However, purchasing life insurance is a great way to help protect your family’s financial future and, with MiWayLife, you’ll get to enjoy additional benefits for maximum peace of mind. So, why not get a quick quote today?

Did you know:

You can now take out life cover with us online in a few simple steps. No calls and no agents! Make sure to take care of those you love today by buying MiWayLife cover online.