Consider the Value of Daily Tasks When Buying Life Insurance

The everyday supporting services you perform for your family may be just as valuable as income.

You may not be getting paid to run the kids to school, do the laundry or fix the kitchen sink, but the day-to-day support you provide for your family can feel like a full-time job. And hiring someone to handle these tasks in the event of your death can be expensive, which is why life insurance can come in handy.

When calculating how much life insurance you need, you may not think to include these everyday tasks. The breadwinner’s salary is often front and center when estimating a family’s coverage because it’s important to replace that income if the primary earner dies. But if you undervalue the supporting services you provide, your loved ones may be left with unexpected costs.