Baldwin Insurance Agency - The Importance of Life Insurance for Single Moms

The Importance of Life Insurance for Single Moms

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Single moms do it all--they provide for their children, prepare meals, follow up on homework and school activities, and provide emotional support, all while balancing a professional career (sometimes working 2 or more jobs!). With no one else to rely on, they have to do everything.  It's a tough responsibility illustrated by a grim statistic: 52% of those living in poverty are single moms.  Even when working multiple jobs, it's extremely difficult for one parent to stay afloat financially while bearing the burden of what a couple was designed to carry together.

Traditionally, Life Insurance Is Marketed to A Husband 

When most people think of life insurance, they think of the commonly marketed situation: a husband needs life insurance to provide a death benefit to the surviving wife, so she can raise the children without struggling to pay bills.  What is marketed as a worst case scenario is exactly what single moms go through every day; they must become the sole breadwinner while simultaneously taking up all the responsibilities of raising children.  And unfortunately, the loss of a single mom is much more devastating to her family. Instead of having the support of just one loving parent, the children are left with none.  This highlights the need of life insurance for single moms, even more so than for couples!

Life Insurance for Single Moms Is Of Upmost Importance 

While the burden is great for a surviving spouse to live on without their soul mate, children without parents face even more of an upward battle.  Who will take care of them?  How will they be provided for?  While there might be grandparents, uncles, aunts, or other relatives available to take them in, do they have the resources to care for them properly?  And if no one is able to help, would the children be able to thrive in foster care? 

Fortunately, life insurance provides a significant boon to ensuring the safety and provision of children caught in this situation.  Family might be more willing and able to help bear the burden, if a death benefit was provided.  Not only would it help alleviate the burden, it could also provide for the children's future: for instance, a college fund could be set up, or a home could be purchased for the children to be raised in and then later inherit.  Instead of taking a step back, the children could see their lives continue forward with promising opportunities for generational wealth.  Life insurance could allow you to leave your children with an inheritance, a lasting legacy of your dedication and hardwork.

Life Insurance Is Affordable 

The first obvious concern for many people is, "Will this cost a lot of money?" Single moms certainly echo the same sentiment, as any additional expense to an already-tight budget is scrutinized--and for good reason!

Fortunately, life insurance is very affordable.  In fact, the average person overestimates the cost by 3 times.  It is possible to get coverage for less than $20/month.  So for less than a cell phone plan, you could qualify for life insurance that would pay $500,000+ in a death benefit to those surviving you.  This money would go a long way in providing for your children and ensuring they have a promising future.

Get A Life Insurance Quote Today 

If you are interested in learning more about life insurance or want to get a quote, you can reach out in a variety of ways: