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What it Would Cost to Replace a Spouse

When you are trying to figure out a working spouse's life insurance needs, it is often easy to figure out how much money you will need. In most cases, you will want to replace a working spouse's income. You might also want to pay off the mortgage and set money aside for a college fund. If you are trying to figure out how much money you will need to insure a stay-at-home partner, you will have to take other factors into consideration. A stay-at-home partner provides valuable services that need to be replaced in the event of their death.

Child Care

When children are young, care is a major expense that you will need to pay for when a stay-at-home partner dies. Child care expenses vary depending on the age of the kids and how many you have. If you have several kids, or need to have someone drive your children to after school activities on a regular basis, you may want to hire a nanny. Otherwise, you may find it more economical to send your children to a day care. You will only have to pay for care for a limited amount of time, but it is important to factor that into your life insurance needs. The older your kids are, the less money you will need to set aside for this expense.


Many spouses provide housekeeping services for their family. Although the working spouse could pick up the housekeeping slack after their spouse's death, they may want to hire a housekeeper to come in on occasion, especially in the first months after their partner's death. The cost of a housekeeper varies, depending on the size of your home, how often you would like a housekeeper to come in, and the cost of living in the area. If you want to pay for a permanent housekeeper to come in regularly to replace your spouse, you will want to make sure that you get enough life insurance so that the interest would cover the cost of having someone come in.

Final Expenses

Funerals can be expensive. The average funeral will set you back at least $7,000, if you intend on having a regular burial. Your partner may leave you with medical bills or probate costs as well. If your partner has an estate and is in debt, you may want to get enough insurance to pay off the debts, so that bill collectors will not go after the estate to cover the debts left behind.