Life Insurance Considerations For Independent Contractors and Stay-At-Home Spouses

If you work a corporate job, life insurance is often a part of your benefits package, as well as something that you expect to purchase in case of your passing. But what about stay-at-home spouses and independent contractors who don’t have that employer-sponsored back-up plan? Do they need insurance? What does that look like? The answer is yes, and here are a few reasons why.


One of the reasons to purchase life insurance coverage for someone is to pay for the loss of what they do daily. If a stay-at-home parent were to pass away, the burden of home care would fall solely on the working spouse, and it can be a crushing load. Tasks that are left when a stay-at-home spouse dies can include anything from child care to laundry, food preparation to grocery shopping, driving the kids places, and even just regular household upkeep.


When they are gone, that is a loss that will be etched in your heart, and nothing can make that better, but some things can make it a little bit easier to navigate the grief. One of those things is life insurance.

For example, if there is a life insurance policy in place, a survivor may be able to pull back from their regular job for a bit to grieve and reestablish a routine – the death benefit from the insurance policy can help fund this salary gap, as well as funeral expenses, provide money for college for any kids, replace some of the tasks that the stay-at-home parent used to take on, and pay off debts. If you recently bought a home together with your partner, it could help pay the mortgage and associated bills.


As an independent contractor, your salary may vary from month to month, so it’s up to you to decide how much money you want to leave behind for your family. Consider both whole (permanent) and term (temporary) life insurance to see what feels most supportive and affordable. If you are an independent contractor and pick up business debt, life insurance can help cover it and protect your loved ones from having the burden of those bills after your death. 


Life insurance isn’t just for people who have steady jobs; it’s for all those who want to care for the people who will be left behind after they pass away. If you don’t have life insurance right now, no matter the reason, speak with a representative at Navy Mutual to determine what options you have and what type of coverage would be most supportive for you and your loved ones.


This article is sponsored by Navy Mutual. Protect your family and your future. Navy Mutual provides affordable life insurance and annuities to those who have answered our nation’s call. If you are active duty, in the reserve or guard, or retired from any branch of the United States military or uniformed services, we’d be honored to serve you. Click here for a quote from Navy Mutual today!

Aj Smit is the author of the book Red Thread: Weaving an Embodied Life of Joy, speaker, glitter enthusiast, and professional weaver of Joy. She is a military spouse in S. Korea with a pup and houseplants galore. Aj has led various Red Tents, retreats, and workshops internationally over the last ten years to help others discover how to weave creativity and curiosity into their lives. You can find her on Facebook and Instagram at @TheJoyWeaver and