This is one of the most overlooked coverage areas, and a very important one. Many people think only in terms of insuring the main breadwinner. But even if you are not currently earning money, it's important to recognize that a person maintaining a home and caring for a family has a financial value. If an individual takes care of children or another person in the home, such as an elderly parent, their death could create unexpected - and significant - caregiver expenses.
With your family suddenly be faced with childcare or adult day care costs - or even assisted living expenses? Will they need a housekeeper to get the chores done, or a helper to run errands, drive carpools, or shop for groceries? These costs can run for years and really add up.
In home caregivers represent an important financial consideration, and should have life insurance coverage to minimize any potential hardships.