Family Finances Life Insurance

5 Reasons Why Non-Breadwinners Need Life Insurance

byJenny Tai
  • Apr 22, 2019
  • 6 mins

When my second child was born, I became a stay-at-home mum (SAHM) for a while – a decision that my husband fully supported. It was then that I truly understood what a crucial role SAHMs had in their children’s lives on top of keeping the household running. Even without a pay cheque, SAHMs add tremendous financial value to our families. Despite knowing all this, I doubted my need for life insurance when my husband talked about buying life insurance for me. Like many SAHMs, I initially had these misconceptions about life insurance and SAHMs:   

  • Misconception #1: I don’t earn any income, so paying for an insurance policy for me is a plus but not a must. If anyone needs life insurance, surely it’s my husband as the primary breadwinner, not me. 
  • Misconception #2: If anything happened to me, there would be minimal financial impact since I don’t have income and my husband can afford to upkeep the family like how he is now. 

Truth is, SAHMs need life insurance too, and there is no guarantee that our husbands can afford to support the family financially without us. For you to have proper life insurance coverage is a form of true care. Life insurance protects your family’s financial future if you should pass away, so that they won’t have to worry about money and can focus on healing and surviving without you. Nobody likes thinking about the worst, but not preparing for it is a mistake. Here are the ways that buying life insurance as a SAHM can help your family.  

1. Life insurance payouts will help with childcare 

With you at home, your husband has peace of mind, knowing that your kids were in the best of hands. But without you, your husband will have to consider childcare options such as hiring a helper or enrolling your kid(s) in childcare. 

According to the Early Childhood Development Agency (ECDA), the average monthly fee for a full-day childcare programme was S$1,087 at the end of 2018. However, actual costs vary tremendously and can exceed S$2,000. This is not a small fee to be saddled with on a single income, especially if you have more than one kid who needs taking care of. Payouts from life insurance can help pay for this should the unfortunate happen. 

2. Life insurance will help your husband sort out household chores and expenses

On top of taking care of their kids’ everyday needs and well-being, many SAHMs are in charge of grocery shopping and budgeting, cooking, cleaning, laundry, yard work, and many other time-consuming chores. Some SAHMs not only take care of children but look after aging family members as well.

Without you there, who will tackle these tasks? Your husband, with his full-time job, may not have the time or energy to manage all these tasks. As the sole remaining parent to your kids, it’ll be doubly important he spends quality time with them to ensure their well-being after your passing.

This means he will probably have to hire a helper to deal with the chores and/or a carer for elderly parents. Payouts from life insurance can lighten your family’s financial load by covering these expenses that your husband didn’t have to pay for before. Having life insurance is a way that a SAHM can show true care to these members of the household left behind.   

3. You can continue supporting your children’s education with life insurance 

As mums, we all want the best for our children, and many of us SAHMs invest our own time and energy into being their private tutors instead of sending them for tuition (thereby saving on tuition fees and other costs, such as transportation). 

For many children, losing their mum may mean losing their personal teacher as well. It would impact their education journey significantly. Having life insurance is a sign of true care; it means being able to help support your kids’ education, even after you’re gone. The payouts would provide your husband the means to perhaps add enrichment or tuition classes to enable your child to continue progressing well in your absence. 

4. You could give your children the gift of an inheritance

No amount of money could ever replace a mother’s love, but when you can’t be there, you can leave a legacy for your children to help give them a head-start when they are older. The inheritance doesn’t have to be a huge amount, but something to help them out. Life insurance is an extension of your true care, making possible the gift of an inheritance to let your children know that you always looked out for them in every aspect and stage of their lives. 

5. You’ll alleviate the financial burden your loved ones will be left with


It’s morbid to think about, but dying is an expensive business. 

If you should suffer a critical illness, the medical bills for your treatment could be staggering – for late-stage cancers, treatment could cost upwards of $8000/month – and in Singapore, a funeral could cost up to $23,777 depending on what services are required. Add this to the slew of new expenses your husband will need to incur to keep the household running and losing you equals to a big financial setback for your grieving family. Receiving the payout from a life insurance plan will help to alleviate your family’s financial pain and allow them to focus on healing on the emotional front. 

Options to consider

Income’s Star Secure Pro is a whole life plan that covers death, terminal illness and total permanent disability (TPD). With Star Secure Pro - Protection Benefit, you can enjoy coverage of up to 500%1,2 of the sum assured up to age 75 or 80. Layer up your protection with the Advanced Life Accelerator rider for coverage against dread diseases and a Major Impact Benefit3, in the event that you undergo a surgery or suffer a serious infection and you are required to stay in an intensive care unit (ICU) for a total of 5 days or more in one hospital admission. Furthermore, if you are concerned about early and intermediate stage dread diseases and, mental illnesses, you can also add on Early Life Accelerator for a more comprehensive coverage. This rider also provides extra protection for catastrophic cancer such as leukemia, lymphoma and stage 4 malignant tumour which requires you to undergo cell, tissue and gene therapy4.

You can also consider Income’s Family Protect, an affordable term life insurance which provides coverage against death, TPD (up to age 70), terminal illness and dread diseases for a period of 10 years. With the Dependant Booster Benefit, it will pay an additional 25% per surviving dependant (which includes your spouse, children, parents or parents-in-law) in an event of death, TPD (before age 70) and terminal illness, up to a maximum of additional 100% of the sum assured, ensuring that your dependants are cared for should the unfortunate happens to you. If this plan is for you, you can purchase this plan here.

While money can’t take your place, Income’s life insurance can help cushion your family against major financial burden should the unfortunately happen. Connect with Income Advisors today to find a life insurance plan that best fits you, giving you peace of mind and protection for your loved ones. 

As SAHMs, we are devoted to truly caring for the well-being of our families, often even putting their needs before our own. While the idea of leaving our loved ones behind is unfathomable, failing to prepare for the worst means we risk saddling them with financial hardship in an already heart-breaking time. Learn more about how to ensure your family is ready to face whatever may come in future. 

Jenny Tai is an experienced writer covering parenting and lifestyle topics.

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