Life insurance can be one of the easiest things not to buy. It’s an extra expense. You’re healthy and probably going to live a long time. Who wants to think about mortality? You won’t even be the one who gets the payout if the policy has to be used!
While no one would take at least one of those thoughts seriously, people still have all kinds of excuses and mental hangups, especially when they and their families are on a single mom’s income. However, single moms are actually some of people who need life insurance the most! Here’s why.
- Your kids depend on your income. Even in a two parent household, the loss of one parent would seriously disrupt family life, possibly making it necessary for the family to leave the home they know or seriously contract their normal lifestyle. The situation is even more difficult for single parent households, where everything has to work off of the income of a single person. If you have children and no one takes care of them financially but yourself, you need life insurance. Period. End of story.
- Now is a time in history when it is very easy to set up a policy. Don’t let the time pass because of political changes. Medical exams are no longer necessary, and you can apply for life insurance without an exam over the phone. Some policies even get approved in the same day! These regulations make the process very accommodating for consumers, as it should be. The best insurance companies will work according to your schedule and budget, regardless of your current medical situation. Again, don’t let this cultural moment pass without securing your best plan at the best possible rate. Nobody know what the future holds, and it could get much harder to secure affordable life insurance for single mothers.
- Living benefits life insurance can help if you become disabled or critically ill. This is a great option for single parents whose children would be in a bad situation if the parent became seriously ill or injured. There may be flexible options in a greater variety than you are currently aware, so do your homework and talk to a professional to learn what’s out there.
- Term life insurance less expensive than you may think. In general, it’s a good idea to buy as much as you qualify for, because the difference between policies is so slight. You will probably qualify for $500,000 or 20 times your income, but don’t let these ballpark figures prevent you from looking around for the best policy for you.
Life insurance is simply essential for single mother families. It’s expensive and time-consuming to keep the family nourished and housed, and all of this action can make it very easy to neglect life insurance. But life insurance is the only way to guarantee financial security for your kids if the worst was to happen. Term life insurance is affordable, and the political time to buy is now, so see what is available today and get the peace of mind that insurance provides.