Family value

Household management, childcare, transport and the endless list of unpaid work at home matters. Here’s why stay-at-home parents might need life insurance too.

The work done in the home every single day has real, significant financial value. Childcare, transport, meals, household management — if you had to hire people to cover it all, how much could it all cost? Here are three key things AA Life Insurance can help cover if something happens to the stay-at-home parent in your whānau.

1. To replace the value of their work

If something happens to a stay-at-home parent, your family may need to make new arrangements for child-care, transport, housekeeping and more, which may mean additional, unplanned-for expenses. If you’re looking at getting Life Cover, make sure you’ve considered how you would manage financially if something happened to either parent, including the stay-at-home parent.

2. To cover mortgage and other expenses

If something happens to the non-working parent, your family’s expenses may go up – to pay for the work they normally do – or your income might go down, if you need to take off work to help around the house or care for the stay-at-home parent. 

If the stay-at-home parent were to pass away, AA Life Insurance can help your family settle debts, boost savings, or pay for future expenses like your children’s education.

3. To cover additional costs

If they get injured, become ill or pass away, your family could face major unbudgeted costs. These could range from paying for private or unfunded medical treatment, to modifying your home if they suffer an injury that leaves them with a disability or covering the cost of their funeral. Without cover on the non-working parent, it may be challenging to meet those expenses.

For more information visit aa.co.nz/insurance/life-insurance

AALIFE.CO.NZ  

The information in this article has been compiled from various sources and is intended to be factual information only. Full details of AA Life Insurance policy terms and conditions are available from AALife.co.nz. For advice on product suitability, please contact your financial adviser. While we take reasonable steps to ensure that the information contained in this article is accurate and up-to-date, it is subject to change without notice and we cannot accept any responsibility or liability in connection with your use of or reliance on this article. AA Life insurance policies are brought to you by the New Zealand Automobile Association Incorporated (NZAA) and underwritten by Asteron Life Limited. Policies are subject to terms, conditions, exclusions, and limitations.