Life Insurance for Single Parents is a topic that should be of interest to you if you are a single parent.
How Life Insurance Can Help
Life insurance is a recommended financial tool for most everyone with dependents. Life insurance pays not only for funeral expenses and outstanding bills, but it also provides financial security for surviving children and spouses.
Financial Risks That May Impact Your Family
Single parents are particularly more in need of life insurance in order to provide for his/her children in case something were to happen to the single parent. Children may suffer not only financially, but also emotionally when losing their single parent. Because of the typical financial bind of a single parent, they may more easily decide to avoid the expense of obtaining life insurance to balance their already stressed budget. Nevertheless, they should “think big” and make sure they have adequate life insurance in order to provide for the short and long-term care needs of their children.
Sample Life Insurance Rates
For instance, to replace an annual income of $100,000, and assuming one can earn an annual rate of interest of 5% on investments, it would take a life insurance policy with a face amount of $2,000,000 to generate such income. Below are rates from various top rated life insurance company for a
40 Years Old Female; Best Health Category; 20-Year $2,000,000 Term Policy
- $945.00 per year with Ohio National Life Assurance Corporation
- $1,005.00 per year with Ohio National Life Assurance Corporation
- $1,020.00 per year with Savings Bank Life Insurance Co of MA
- $1,045.00 per year with Banner Life Insurance Company
- $1,090.74 per year with Protective Life Insurance Company
How Can We Help?
- find about more about a particular life insurance policy, including obtaining a consumer brochure describing complete details about said policy;
- or if ready to file an application at this time;
- or if you would like to explore other life insurance options, including obtaining a Free Personalized Life Insurance Quote;
- please, click on CONTACT US, or call our Toll Free Number 888-950-8376.