Life Insurance for Stay-at-Home Parents

Life Insurance – Types of Cover For Stay-at-Home Parent

Single

Getting a quote by yourself and taking out a single policy.

Joint

This policy covers you and your partner and will pay out once. This policy can either be set up on a Joint Life First Death basis, i.e., the policy will pay out on the death of the first life assured, and cease. 

Or on a Joint Life Second Death basis, i.e., there will be no payment on the death of the first life assured, however, the policy will pay out on the death of the second life assured and then the policy will cease.

Dual

Dual cover will pay out on the death of both the first and second lives assured. On the death of the first life assured, the benefits will be paid to the remaining life assured. 

The benefits will be paid to their estate upon the death of the second life assured. Once the policy has paid out on both the first and second lives assured, it will cease.

If you want to learn more, read our article on Joint vs. Dual Life Insurance: Which Is Better for You?

Is There Any Life Insurance Benefit I Can Enjoy While I’m Alive?

Life insurance isn’t just about providing financial security after you’re gone; it also offers benefits you can use while you’re alive. 

For instance, Hospital Cash Benefit provides a daily cash payout for each day you spend in the hospital. This benefit helps cover out-of-pocket expenses, including meals, transportation, and parking fees, which might not be covered by your private health insurance. 

These additional funds can ease the financial burden during hospital stays, ensuring you can focus on recovery without worrying about unexpected costs. 

Read our article to learn more about the various living benefits of life insurance and how they can support you and your family in times of need.

Additional Benefits For Stay-at-Home Parent

Life insurance providers in Ireland do offer special benefits. Many insurers provide Children’s Life Cover and Serious Illness Cover for children as benefits when you hold Life Insurance and Serious Illness policies, respectively.

Aviva Care

When you choose Aviva for your Life Insurance, Serious Illness Cover, Mortgage Protection, or Income Protection, you can access an exclusive health and well-being service called Aviva Care. 

This service is included free of charge with all new protection policies, offering a suite of valuable benefits designed to support your overall health and well-being. 

Aviva Care provides policyholders with four great benefits at no additional cost: Digital GP, Best Doctors Second Medical Opinion, Family Care Mental Health Support, and Bereavement Support. 

Helping Hand

Royal London goes beyond the typical insurance offering by providing access to a service called Helping Hand, which grants you access to dedicated medical professionals from the day your policy starts—not only when you make a claim. 

This unique feature includes all nurses available to give you a second opinion on your diagnosis and future treatment options without additional cost. Helping Hand isn’t just for policyholders; your spouse and children can also use the service. 

Should you ever experience a serious illness, injury, or bereavement, Helping Hand offers crucial support that extends beyond financial aid. To aid in recovery or coping, Royal London, through Helping Hand, may provide access to specialist therapies such as bereavement counsellors, speech and language therapists, face-to-face second medical opinions, complementary therapies, and physiotherapy for specific serious health conditions. 

Get a Life Insurance Quote For Stay-at-Home Parents

Getting a life insurance quote for stay-at-home parents is an essential step in safeguarding your family’s future. 

Whether you’re looking for term life insurance, a whole-of-life cover policy, or a specific plan tailored to your circumstances, LowQuotes provides the tools and information you need to make an informed decision.

We also provide various financial services, such as mortgages, serious illness cover, pensions, financial planning, health insurance, and savings & investments.