Term Life Insurance FAQ
LIFESTYLE
Q. I’m an in-home caregiver. Do I need a life insurance
policy?
A. This is one of the most overlooked coverage areas, and
a very important one. Many people think only in terms of insuring
the main breadwinner. But even if you are not currently earning
money, it’s important to recognize that a person maintaining
a home and caring for a family has a financial value. If an
individual takes care of children or another person in the
home, such as an elderly parent, their death could create
unexpected — and significant — caregiver expenses.
Will your family suddenly be faced with childcare or adult
daycare costs — or even assisted living expenses? Will
they need a housekeeper to get the chores done, or a helper
to run errands, drive carpools, or shop for groceries? These
costs can run for years and really add up. In-home caregivers
represent an important financial consideration, and should
have insurance coverage to minimize any potential hardships.
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