Ladies, the truth is, many of you are the CEO of your families. Whether you are performing double duty in the workforce and at home or not, you are a vital part of your family’s success. Without you, your family could be struggling to provide the things you take care of on a daily basis. Many times, women sell themselves short and don’t have life insurance or they do not have a large enough policy.

Even stay-at-home moms need life insurance coverage. Odds are, your husband is going to need to find childcare in order to keep working and may even need additional help adjusting to taking over the other tasks that you managed. Taking over your large workload can be difficult for a grieving husband who has lost his wife and taking time off of work may be too much of a financial burden. Who will take care of the kids while he is at work? The house? The homework? Your husband will need time and extra finances to help provide your children with the care and needs of their daily life as you once did.

In 2013, studies showed that while 43% of women had life insurance, many of them still had policies that were too small. Did you know that the duties of a stay-at-home mom can easily cost up to $120,000 per year? Counting childcare, accounting needs, tutoring their children, cleaning their homes, and taking care of the many other unpaid tasks that stay-at-home women perform, can suddenly become an actual expense if they were to pass away unexpectedly. These many tasks and their real-world costs should be considered when determining how much life insurance to get.

Life insurance may also be needed to replace your income for your family in their time of need. On top of losing the matriarch of the house, your family will soon be struggling with how to pay the mortgage, pay tuition for the kid’s school, and stay on top of everything that your income helped to do. Did you know that 4 out of 10 women are the primary source of income for their families?  And that two-thirds of women make just as much money as their husbands, if not more? The last thing you want to leave your loved ones with when you pass away is the financial burden that can be caused by the loss of your income.

The importance of having a life insurance policy is that it not only helps your family with your funeral expenses, but it can also help to keep your family on the right track after you’re gone. By having adequate life insurance policy, you can easily ensure that your children grow up well taken care of and provided for. Even though planning for a future without you in it isn’t something women think about daily, it is a very important to consider before it is too late.