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It is a hard decision for women to make the decision to leave their work so that they can stay at home to look after their children by becoming a full-time mom.  Such a decision always comes with financial implications if the right safeguards are not in place.  For most mothers, life insurance cover is not one of their priorities.

When they lose their income, it creates a huge financial risk for stay-at-home because of the loss of the income.  Usually a lot of moms will leave their jobs in the hope of returning at a later time.  Most do not realise how restrained their chances are to going back to work and how much a challenging financial impact the time-out will have on them.

This mismatch of knowledge is so dramatic that most mothers will often have to make these important choices, knowing very little of the consequences in the long term.  The sad thing is that mothers face the challenge of not seeing the solutions because of the painful challenges of the years to come.

The reality for most mothers is that some of the then may be faced with divorce, others may have to deals with illness of their spouse’s, sometimes incapacitation or God forbid premature death.

Collectively looking at all the risks makes it a more obvious that a lot of women who turn their backs on the independence finance provides when they leave their work.  This may mean serious consequences for them and their children.

If you were to examine the cost of the work done by mothers in the house, the trend has been that the value has doubled for the past twenty five years.   It is said that on average the mothers work in the home is worth more than what a college graduate would earn at the start of their careers.  The average chores in a home take sixty six hours a week which is comparably more compared to the average thirty four hours men work.

The value of the woman’s work in the home is in most cases undervalued financially.  This is more when it comes to making sure the family will cope financially in the event of one parent’s death.

It is important to protect your family against all eventualities.  If you are considering being a stay at home mom, or you are already a stay at home mom it is important to cover yourself with life insurance because the little ones are depending fully on you.  Although you do not have an income to protect, imagine the financial burden your spouse will experience for paying for someone to look after the house and the children.  This may happen when you are a full time mum and you have to sadly go through a grieving period, considering the costs of childcare, schooling and general maintenance.

It is important to consider income payment protection which is an insurance agreement that will pay you an income monthly if you cannot work because of accident or illness.  There are two types of income payment protection; short term protection and long term protection.

A short term plan will pay monthly benefit upon receipt of a valid claim for a maximum of twelve months and a long term plan will pay a claim up until your selected retirement age.

It is important to consider both life insurance and income protection when you have dependant.  The importance is also added on with the need for mortgage payments, loan payments and credit card bills.  Underestimating the cost of being a stay at home mom can be a huge mistake should anything unforeseeable happen.

To see how you can protect yourself against any eventualities as a stay at home mom, get a life insurance quote today.