Every parent should at some point consider the need for life insurance to protect their family. It is one of the most affordable financial protection in case anything goes wrong, even stay-at-home parents.
Lots of families wonder whether it is reasonable for someone who is not the breadwinner to take out life insurance. It is smart to consider whether that is worth the surcharge. The basic logic here is that it should replace the income of the primary breadwinner, and since the parent in question has no income, this does not make sense. However, this is a misconception.
There are many reasons why both parents should think of having life insurance, and there are many options to save money as well. Below, I will present to you the most common and obvious reasons why I would like you to consider and take out a life insurance policy, even if you are a stay-at-home parent:

Child Support
This is probably one of the highest costs to keep in mind when considering life insurance. Parents who stay at home can take care of the children. But even if the stay-at-home parent dies, there must be at least one person in the family making a living. This means you have to pay child support. The cost depends on the age of the child, but it is usually around £263 per week, including the cost of sending the child to full daycare. These kinds of expenses are something that most families cannot afford in the short term. Unfortunately, as children grow older, other costs such as childcare and family reunions must be taken into account. Life insurance can help you manage these costs in the short and long term.
Debt Elimination
Starting a family can be an expensive investment. This could refer to things like getting a mortgage or a big loan to get things going. Turning a house into a home isn't cheap, but it's worth it in the end. This can mean you will go into debt, and managing that debt is something many families are capable of doing under normal circumstances. However, after the death of one of the parents, the cost of the family budget can increase significantly, while the income may be halved. On top of that, trying to manage outstanding debt can push your family to the limit. You may not be able to repay this loan, but it can be a huge help in managing that period after someone dies.

As mentioned earlier, talking about death can be difficult, but preparing for it can be a huge help to a loved one
Burial Expenses

Talking about death can be very difficult, especially if you have a young family. Fortunately, many of us don't have to deal with this, but being prepared can help. Unfortunately, funeral costs have been steadily rising in the UK in recent years. We all want to be able to say goodbye to our loved ones in a way that they deserve. However, the high cost of funerals makes finding the money for this unrealistic for many families. This can mean switching to things like loans and credit cards to pay for funeral expenses. Trying to manage these expenses during times of great stress and emotion can be overwhelming for some families. Life insurance can help finance those costs.