LifePolicyFactsA parent who stays home earns no salary, yet the work has a market price. If that parent died, the family would need to pay for care, cooking, transport and household tasks, often while the working parent also had to reduce hours.
The value of unpaid work
Childcare, cooking, cleaning, school runs, shopping and household admin all carry real costs when bought from others. Surveys and salary guides regularly put the combined replacement cost well above a full-time wage, although the exact figure depends on where you live.
A replacement cost example
| Task | Illustrative yearly cost |
|---|---|
| Childcare (full time, two children) | 20,000 |
| Cooking and cleaning help | 6,000 |
| Transport and errands | 2,500 |
| Reduced hours for the working parent | 8,000 |
These add up to about 36,500 a year. Over eight years until the youngest child is in school, the need is near 292,000, before counting a funeral or grief leave.
How much cover
Estimate the yearly replacement cost, multiply by the years of need and subtract savings. The Stay-at-Home Parent Value Calculator does this with your numbers. A term policy matched to the child-raising years is usually the practical choice; see term versus whole life.
Frequently asked questions
Can an insurer refuse because there is no income?
Insurers look at the household situation, so cover for a stay-at-home parent is normally available. Limits may apply.
Is it expensive?
Healthy, younger applicants often pay modest premiums for term cover. Get actual quotes.
Should both parents have cover?
Usually yes, because each adult's absence would create a financial gap.
Educational content only. Not insurance, financial or legal advice. Figures are illustrations; check real quotes and policy documents.