Why single mothers need life insurance

Single moms want the best for their children—that’s why you should consider applying for long-term life insurance.

If you are a single mother, you know how difficult the day-to-day work of raising children can be. Most single moms are doing all the work alone—and even if you have one parent or grandparent helping you share the load, you’re probably responsible for managing everyone’s time, making sure everyone’s needs are met and getting everything done. important decisions that may affect your children.

This includes the decision to apply for life insurance. Some single moms already know the benefits good life insurance can provide, but they may not have put in the time to compare life insurance policies or use the Internet – even though many term life insurance policies take just a few minutes to complete.

Some women may not know how life insurance can help protect their family. Term insurance can help your loved ones remain financially stable during the most difficult times. If losing your money could cause problems for your children or family members, life insurance is one way to bridge the financial gap.

Life insurance can also help you leave a legacy for your loved ones—whether you’re hoping to help your children pay for college or if you want to establish the kind of wealth that will benefit your children, grandchildren, and great-grandchildren.

All parents should consider getting life insurance—and single mothers, who often work as two parents, have even more reasons to apply for life insurance. Here are six ways life insurance can benefit you and your loved ones:

In this article:

Life insurance can help your loved ones pay for the final expenses

Some families don’t realize how expensive it is to pay for living expenses. Ask yourself if your loved ones will be able to handle the costs involved in a funeral, burial or cremation – then ask yourself if life insurance can help your loved ones not only financially, but also emotionally.

Knowing that there are funds available to help your loved ones celebrate your life can help ease their grief – and prevent them from taking out the last bit of money they can’t afford.

Life insurance can help your children continue their education

Whether you hope to send your children to college or simply want to keep them in their current schooling, life insurance can help provide the money you need to help your children continue their education.

Life insurance can also help pay for childcare or preschool, after-school care, summer camps and enrichment activities—all important parts of childhood. Let grandparents and caregivers know that you have life insurance, so they don’t have to worry about who will pay the bills if you don’t.

Life insurance can help pay the monthly mortgage

If you’re a homeowner, you know how important it is to make monthly mortgage payments. Life insurance can help pay mortgages after you leave If you are thinking about your life insurance, which covers you for a specific period of time, called extended term (that is, time), think about the length of your time. up to the length of your loan to ensure that you will be paid as long as you keep making payments.

If you do not expect your children to remain in your family after your death, remember that life insurance can also help cover the costs associated with moving your children from their home to a foster home.

Life insurance can help protect your parents in retirement

In the worst case scenario, your children’s grandparents will have to work hard to provide special or additional care—and without financial support, the cost of caring for them could cost your parents in retirement.

By having a life insurance policy, you can remove some financial burden from your parents. That way, your children can get the care they need—and your parents can continue to save and plan.

Life insurance can help your children into adulthood

Many young people rely on parental support, from their first homes to their first jobs – not to mention marriages, births and all the other events of adulthood. If you’re not around to provide support yourself, your life insurance premiums can help provide the money your children need to grow into full-fledged adults.

If you are planning to make your children the beneficiaries of your life insurance, you should assign a trustee or set up a permanent trust to ensure that the money is taken care of until your children reach adulthood. . At that point, they will be old enough to take care of their own money – and their own future.

Life insurance can leave a legacy for generations to come

There is another reason single women should consider life insurance. Life insurance can help you leave the kind of financial legacy that will benefit not only your children, but future generations of your family.

Imagine your children starting their adult life with enough financial stability to help them avoid unnecessary debt, for example, and think about how it will benefit their future children. Think about how a college education can help your children find good jobs—and think about what they can teach the next generation about the importance of learning.

Having life insurance instead gives you peace of mind—not just what you can’t expect, but what you can afford. That’s why all parents—especially single mothers, who often work as two parents in one family—should consider applying for whole life insurance.

Our maintenance schedule

Haven Life is a consumer life insurance company sponsored by Massachusetts Mutual Life Insurance Company (MassMutual). We hope that decisions about life insurance, your finances and your overall health can be made easier.

Our maintenance schedule

Haven Life is a consumer insurance company sponsored by Massachusetts Mutual Life Insurance Company (MassMutual). We hope that decisions about life insurance, your finances and your overall health can be made easier.

Our content is for educational purposes only. Haven Life does not endorse the companies, products, services or methods described here, but we believe they can make your life easier if they are suitable for your situation.

Haven Life is not authorized to provide tax, legal or financial advice. This information is not intended to provide, and should not be relied upon as, tax, legal, or financial advice. People are encouraged to get advice from their tax or legal advisor.

Our disclosures

Haven Term is a Term Life Insurance Policy (DTC and ICC17DTC in some states, including NC) issued by Massachusetts Mutual Life Insurance Company (MassMutual), Springfield, MA 01111-0001 and issued through Haven Life Insurance Agency, LLC. In NY, Haven Term is DTC-NY 1017. In CA, Haven Term is DTC-CA 042017. Haven Term Simplified is a Simplified Issue Term Life Insurance Policy (ICC19PCM-SI 0819 in some jurisdictions, including NC) issued by CM Life. Insurance Company, Enfield, CT 06082. Policy form numbers and riders may vary by state and may not be available in all states. Our Agency license number in California is OK71922 and in Arkansas 100139527.

MassMutual is rated by AM Best Company as A++ (Superior; Top 15). The price is as of Aril 1, 2020 and is subject to change. MassMutual has received mixed ratings from other rating agencies.

Haven Life Plus (Plus) is the trade name for Plus passengers, which is included as part of the Haven Term plan and provides access to additional services and benefits at no cost or discount. The rider is not available in any region and may change at any time. Neither Haven Life nor MassMutual is responsible for the benefits and services available under the Plus Rider, which are offered by third party vendors (affiliates). For more information about Haven Life Plus, please visit:

You might like it too

Get the stories we read the most, twice a month

  • This was the easiest way I found to look for and get life insurance. Fast, easy and shows the price etc… I’m really glad I listened to the woman and looked into it.

  • Be prepared to spend an extra $20 per month on your first quote even if you’re in good health. Had their test, everything came back to normal (green) but still gave me back my original voice. A little disappointing.

  • Easy and smooth operation process. Great learning!

  • It was very easy, fast, and the price was better than expected. If you are looking for long term insurance this is the place.

  • The process was very simple. My blood work was done at home. The post contained additional questions that we answered via email. The process could not have been easier and my family is now protected.