Hacker News new | ask | show | jobs
by daydream 868 days ago
>Side note: My wife is a stay-at-home mom and I've long wished for a disability insurance product that would cover the economic value that she provides, i.e. cover the cost of daycare / after-school care if she couldn't care for the kids. As far as I can tell, there's no such product for people who aren't wage earners.

AD&D (accidental death and disability) is the closest you’ll come. It’s most commonly offered by workplaces I believe, and is not expensive. On the flip side the situations it pays out are pretty narrow.

The only other alternative I know of is life insurance but of course that covers death, not disability.
2 comments
bombcar 868 days ago
> AD&D (accidental death and disability) is the closest you’ll come. It’s most commonly offered by workplaces I believe, and is not expensive. On the flip side the situations it pays out are pretty narrow.

This is the problem. Those policies usually cover “unable to work at all” which is extremely narrow (some won’t pay out if you can do any job anywhere, even if you were a doctor lawyer 10 programmer CEO before).

You can find a policy to cover stay at home spouses, but they’re often somewhat custom, expensive, and only pay out until children are X age. Long-term care can also be added, even more.

link
warner25 868 days ago
> AD&D... most commonly offered by workplaces

Like the employer offers coverage that extends to a non-employee spouse, like family health insurance?

I remember finding one product sold to individuals including stay-at-home parents a few years ago by Bright Peak Financial. Now I can't even get their website to load to see any details, so maybe it doesn't even exist anymore, but the coverage limits were pitifully low. Like it would cover only fraction of our childcare costs, and only for a time measured in months.

We definitely have term life coverage on her that will run until our youngest kid is a teenager.

link
daydream 868 days ago
>Like the employer offers coverage that extends to a non-employee spouse, like family health insurance?

Yes. I believe it’s typically offered for just you, you+spouse, or you+family - like health insurance. Lots of info on Google.

link