Thursday, August 13, 2015

Insuring the Mrs

Just shy of 9 years ago, we blogged on the concept of disability income insurance for stay-at-hone moms (and, by extension, dads). Fast forward nearly a decade, and the (e-)Mail Bag brings this goodie:

"Moms are awesome. They do everything from caring for their children to keeping the house in order and, in some families, they're even the primary breadwinner. So what would her family do if she was gone?"

Intriguing, no?

Turns out that only about 40% of American female-types own life insurance, yet the (what I would call imputed) value of Stay-at-Homes (SAHM) is close to $120,000 a year. Couple that with the fact that over 80% of single parents are of the fairer sex, and this life insurance shortage could spell disaster.

Now, the other side to this coin is that this actually tracks closely with the percentage of Americans of both sexes that own life policies.

Still, it's undeniable that "wife insurance" is an important and often underserved market. The folks at ConsumerAffair have put together an interesting and informative infographic neatly detailing the problem.

Food for thought, no?

[Hat Tip: Kay E.]
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