Life insurance is designed to protect against a loss of income if a loved one should die. However, this safeguard isn’t just for traditionally employed adults. The value stay-at-home parents provide should also be part of calculating how much life insurance a family needs.

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In America, 18% of parents don’t work for pay, according to a Pew Research Center analysis of the most recent U.S. Census Bureau data. But that doesn’t mean they’re not adding to the household balance sheet. In fact, the U.S. Bureau of Labor Statistics (BLS) suggests the work of stay-at-home parents could be the financial equivalent of an administrative services and facilities manager plus a teacher all rolled into one.

For many years, life insurance focused on replacing the income of breadwinners, sa

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