Why life insurance is also important for house wives, home makers

The general idea about life insurance is that, ONLY people who are bread winners, need it.

Life insurance is like a compensation paid to the family in case the bread winner dies.

What it does is :

It helps the family to have some level of standard of life even after the death of the income earner. And, take care of day to day expenses, and long plans like children`s education, marriage, etc.

That is primarily what it does.

Now, the logic behind insuring your spouse, even if she is not working, is that, if she is at home, she probably is looking after the cooking, washing, and some domestic chores.

She is doing some work in the house.

In case of her untimely death, you will have to keep a maid to do her work. And, you will have to pay her salary.

If you have insurance, you will get an xyz amount from the insurer, which will help.

Let me clarify, I am no way comparing a wife and a maid. Obviously, they cant be compared at all. : )

I am talking about the economic loss here. The emotional loss is different.

Both the bread winner`s and his wife`s life has some value and insurance can help their families.