Purchasing a life insurance policy is a smart idea for any family. But in single-parent households, the need is even more important.
In a 2022 study from Life Happens,1 two in five parents said they are “barely” or “not at all” financially secure. And when it comes to losing the primary wage earner, the same study found 44% of families would feel financial hardship in less than six months.
As a single parent, you are both the sole financial provider and primary caretaker for your children. So purchasing life insurance is a great way to make sure that your children can continue to enjoy the lifestyle they have – even if you pass away unexpectedly. Think of it as an added layer of protection that can help your family move forward without facing financial hardships in the process.