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imageIt can be a fun play on words for us life insurance types, but wife insurance is serious business.

I’m not getting into the stay at home mom vs. career mom debate, and please hold those thoughts to yourself. And I’m not saying wives are more important than single mothers, because I’m going to include mothers of all kind in my #insuremomtoo campaign. My plight is not about these age old ridiculous arguments and judgements. It’s about protecting families, whatever structure and circumstance they have and pointing out that there is a need to insure mothers. Somewhere along the line we’ve discounted that need.

I hear it all the time when I’m talking to people about life insurance. The wife calls our office to research policy options for herself. I return the call and the husband answers. When he asks what the call’s about and I say “life insurance” it’s always the same response: “Oh no, she didn’t mean for her. She must have been calling about my policy.” Whether she stays at home or works, this is always the conversation.

Today, 61% of mothers work outside of the home, yet most families solely rely on the husbands life insurance policy for protection of their family. Simultaneously, far too many families undervalue the financial impact of a stay at home mother’s work, having little or no life insurance in place to protect that value.

The gap in coverage levels between husbands and wives is so extreme we really need to consider it a concept all to its own. Wife insurance. An Australian insurance company has put together a very tongue-in-cheek website using the term. Depending on your sense of humor you may think it funny. But they’re in Australia and we need to take care of the issue here in the US.

In February we kick off a three month campaign focused on educating families on the life insurance needs of women. All women. For pennies on the dollar we can reduce these risks and sleep better at night. I promise.

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