What is Homemaker Insurance?
Homemaker Insurance typically covers a spouse who takes care of the family home and dependent children.
Homemaker insurance typically provides a payout when the stay at home spouse becomes sick or injured, or a dependent child becomes critically ill.
Is it necessary to provide insurance cover for a person not earning an income?
Absolutely. The stay at home spouse is equally important to a family as the principal 'breadwinner' in an economic and emotional sense. Financial consequences of the homemaker being ill or injured may include:
- Costs of child-care;
- the 'breadwinner' needing to take time off work to look after the homemaker and/or children;
- medical expenses;
- costs to hire someone to perform home duties.
How much cover?
There are a number of considerations that should be taken into account when determining the sum insured for a stay at home spouse. These include the age of your children, projected expenses and your financial position.
Contact Us
For impartial, individualised and expert advice on how homemaker insurance can protect your family's financial security if a homemaker becomes sick or injured, contact Cornerstone Insurance.