The decision to leave the workforce and become a full-time mother is often a hard one for women to make, and can also have very costly consequences if the right precautions are not taken. Sometimes life insurance cover just doesn't seem to be a priority.There is a significant financial risk posed to stay-at-home-mothers due to their loss of income. Although most women leave the workforce intending to return to it later on, few realise how circumscribed their chances of re-entry will be, or what a steep financial price they will pay for their time out.
This information gap is so dramatic that women often make these crucial life choices in virtual ignorance of the long-term consequences. But the unfortunate truth is that most of these women will be blind-sided by painful challenges in the years to come.
Half of them will get divorced; others will have to cope with a spouse's illness, incapacitation or premature death. Then there's unemployment and if the second parent should lose their job at some point it could have a catastrophic effect when they are the family's only breadwinner.
Half of them will get divorced; others will have to cope with a spouse's illness, incapacitation or premature death. Then there's unemployment and if the second parent should lose their job at some point it could have a catastrophic effect when they are the family's only breadwinner.
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