Single Parent Mitigates Financial Risk With Term Life Insurance
The emotional attachment between a single parent and child cannot be replaced. However, if the parent was no longer there, the child is going to suffer emotionally and financially. While it is common for parents to designate a guardian for their children in their will, many fail to provide any financial support. When thinking about adequate insurance for single parents, large face amounts should be considered to cover both short and long-term needs for their children.
Consider this situation: Maria, who is age 30, is a single parent of a 4-year old boy, Jack. Maria is a successful and upward mobile manager of a large regional bank.
Needs: Right now, Maria has the resources to help raise Jack. However, she wants to make sure that if something were to happen to her, money is available to take care of Jack’s educational and living necessities many years down the road.
Maria should consider getting a Term Life Insurance policy for at least 20 years. It’s affordable for her. After speaking with her agent, she decides on a $2 million face amount policy that would cover Jack financially for many years, in the event that something were to happen to Maria. Searching the Internet, Maria found the INSURANCE GLOBE website (www.insuranceglobe.net) and using its Search Engine, identified the following policy, which had the most price competitive rate for Maria’s specifics:
FROM A LIFE INSURANCE COMPANY RATED A+
$2,000,000 – 20 YEARS TERM POLICY
MONTHLY PREMIUM: $54.06 OR ANNUAL PREMIUM: $625.00
Maria, was even more pleased when she learned that in addition to the affordable premium and top-rated company she came up with, the above policy also gives her a flexible conversion option to a permanent policy.
To explore life insurance options that meet your particular situation, please, go to the Quote Engine on page on Term Life Insurance, and proceed as explained in the video below:
Or, simply call our Toll-Free Number (888) 950-8376; or, click on Contact Us.