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If you've felt confused by insurance in the past and want a simpler, faster option, Five Star Insurance Agency is your solution.

Our team of friendly insurance advisors is here to make the process of finding the best coverage simple. Start a conversation with us today!

Our process is simple. Start online, and we'll reach out to complete your coverage comparison.

Our team of friendly insurance advisors is here to make the process of finding the best

coverage simple. Start a conversation with us today.

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Insurance is never just about price, but we deliver when it comes to lowering your rates.

At Five Star Insurance Agency, we represent multiple insurance carriers, allowing us to shop the market for the best possible coverage package at the best cost. The proof is in the pudding — we routinely find better rates than many of the "big brand" insurance companies you see on TV, and not just by a few dollars.

Our team is just built differently when it comes to servicing our valued clients.

What makes us different from other agencies is our people — plain and simple. We've built our team with individuals who truly care about our clients well being. With Five Star Insurance Agency, you're dealing with real humans who care.

We're constantly looking for ways to improve coverage while reducing cost. When you purchase your insurance with us, it's never just a transaction. You're getting a life-long advisor who is there for you when you need them most.

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Life Insurance For Stay-at-home Parents

May 08, 20236 min read

Life Insurance For Stay-at-home Parents

Life insurance is a financial planning and management tool that provides a potential payout to the policyholder's dependents in case of unexpected events. Stay-at-home parents may not make a living, but their contributions to the household are important.

In such situations, life insurance can ensure that surviving family members are not left with a financial burden following the death of a stay-at-home parent. It can give much-needed assistance in covering childcare costs, home bills, and other day-to-day needs. 

However, selecting the best life insurance might be a challenging task, particularly for those who are unfamiliar with the technicalities used in the field. Hence, you need to stick with us to go through this jargon in the simplest way possible. 

You will learn about the fundamentals of life insurance for stay-at-home parents, the policies and the advantages they provide, and how to pick among them according to your family's needs.

Why Stay-at-Home Parents Need Life Insurance?

For stay-at-home parents, life insurance is an essential financial tool. It gives your family a safety net in case of an unplanned disaster, helps pay for short-term and long-term needs, and can offer extra advantages beyond a lump sum payout.

The employment market frequently undervalues the skills and qualities that stay-at-home parents possess. If you were to die away, your spouse could have to take time out of work to care for the kids and run the home, resulting in a loss of revenue and perhaps affecting their ability to earn money in the future. The financial assistance required during this transitional phase may be provided in part through life insurance. 

What Types of Life Insurance Policies are Available for Stay-at-Home Parents?

For stay-at-home parents, the largest investment to provide financial security to your loved ones is life insurance. This decision can get a bit risky if a set of policies is not thoroughly followed or important factors are not taken into consideration while opting for an option.

Things are going to get easy here, as the five-star life insurance agency is here to offer its best individual life insurance services. 

In Addition, the possible types of insurance policies comprise the term life, whole life insurance, and universal life insurance policies. You first need to consider the type of life insurance you require. 

Term life insurance: It provides you with financial assistance in unexpected demise. However, throughout the duration you've joined the policy, you need to pay regular premiums.

Whole Life insurance: While opting for this insurance, you will pay regular premiums with financial assistance for an unspecified time frame. 

Universal Life Insurance: It is similar to whole life insurance, but you can get access to funds early. 

Furthermore, some of your credentials, including age, medical history, and coverage amount, vary and play an important part in the premiums you will be paying while keeping up your life insurance. 

What Should Be Considered Before Choosing a Life Insurance Policy?

As a stay-at-home parent, you don't need to worry about the difficult vocabulary of the insurance business. The following elements below will help you understand the best factors to keep an eye on when choosing a life insurance policy:

Potential Financial Assitance

Consider the coverage amount of your family and how much they would require in the case of your passing. Plus, you also have to look into your children's expenditures, as the cost will vary according to their age and the education system you are planning for them. Also, other amenities you should be calculating while selecting the type of insurance policy include house cleaner, lawn mower, etc. This merely depends upon your lifestyle, number of members, debts, and financial objectives in the future. 

Type of Policies

The Term life insurance, the whole life insurance, and the universal life insurance are the primary forms of life insurance plans. Whole or Universal life insurance provides coverage for the policyholder's whole lifetime, whereas term life insurance offers coverage for a predetermined time period. Every option you would opt for will lead to some advantages and disadvantages. Hence your prime focus should be to recognize the variations and choose the best which suits your family's requirements. 

Premium Payouts

You need to consider how much you are able to spend on premiums. Although term life insurance is often less expensive than whole or universal life insurance, the sum amount will merely depend on your age, health, and level of coverage.

Noted: Selecting a trustworthy insurance provider is important, and to check that, you need to go with agencies that have high financial ratings and a track record of paying claims. This will increase the trustworthiness and reliability of the company in the case of any unexpected event, and your family will have access to the financial resources they require.

It's so important to take into account the aspects like coverage quantity, policy type, premiums, and the reputation of the insurance comany when selecting a life insurance policy. For a potential outcome, you will choose a policy that offers your family financial security by conducting your research and working with a trustworthy insurance agent.

How can stay-at-home parents get access to feasible life insurance?

As a stay-at-home parent, finding feasible life insurance can become a headache as it is an essential step for you to provide your family with financial assistance after your demise. However, there are some essential tips that can aid you in finding the best policy within your budget. 

Firstly, you have the freedom to perform your own research regarding the price packages offered by different service providers. You can easily take your time comparing the best suitable packages for yourself without rushing out. Moreover, you can always take the assistance of a reliable insurance agent to help you find the most suitable and trustworthy insurance policy that perfectly fits your family's needs. 

Furthermore, if you look into the primary types of life insurance, you can consider term life insurance policies with minimal premiums payouts. Moreover, you need to think if the specific time policy does fit well with your requirements as it can create problems in the future.

Additionally, you can focus on maintaining good health by having a healthy diet and habits since your health can have a significant impact on your life insurance premiums.

Final Thoughts

Life insurance is an important financial assistance that can't be ignored, irrespective of any profession. Your income possesses merely important to your family members as being the bread earner of the family, you have to take responsibility for the financial needs after something unfortunate happens to you. Hence, follow the above recommendations, and you will be able to find affordable life insurance coverage for your family without any hustle.

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take Your Insurance Experience to

five stars with us


215 East Main St., Festus MO 63028

We Work for You Every Day

from 8.00 AM to 6.00 PM


© 2022 Five Star insurance. All Rights Reserved | Privacy Policy