Have you ever tried to find disability insurance for a stay-at-home parent?

Last month, I had this very issue presented. Under normal underwriting requirements for disability insurance, most people need to be working a minimum of 30 hours per week and earning an income. However, we have all seen the immense importance of the contribution that a stay-at-home parent is making. The household survives on their efforts, and if they cannot do these things due to sickness or injury, the financial impact on that family is significant. 

Here's how the story goes: A homemaker needed disability protection, and the broker, based on these stated underwriting guidelines, believed this wasn't going to be possible. This is where he decided to discuss this case with us. Here is how we solved it - and how you can too. 

Guardian's Spousal Coverage Program is such a unique program for those who are not working - that is, stay-at-home parents. This offers a total monthly benefit of $2,500 per month against the disability of the insured parent. However, there’s one key requirement: the employed spouse is required to carry at least $4,000 of their individual DI coverage with Guardian. 

When our broker client came to us, the stay-at-home mom had no coverage options. After exploring Guardian's Spousal Coverage Program, we were able to present a simple solution: 

The husband applied for disability insurance with Guardian and once that policy was in force, the wife became eligible for spousal coverage under the program. 

The broker presented this plan to the client, and they were very pleased with the outcome. Now, the family is protected against potential income loss. It recognizes the value of stay-at-home parents and provides financial protection that many families didn't know was possible. 

To brokers, this program opens up new opportunities to serve clients who might otherwise feel stuck. It's a win-win: protect more families while expanding your business. 

Do you have clients with unique needs? Let’s find solutions together.

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