Single parents play a difficult role. Though it may be rewarding, juggling childcare, work, bills and other tasks can sometimes be difficult. All parents want what’s best for their children, and everyone should consider what may happen to their children in the event of a parent’s untimely death. Life insurance from an Insurance Agency in Weymouth MA plays a key role in ensuring that children have a secure future.
How Does Life Insurance Benefit Children?
No one expects to pass away early, and most people don’t dwell on the idea too much. However, the unexpected does happen, and the children of single parents often need help. A substantial policy from website can help parents ensure that their children are taken care of, and that they have the option to go to trade school or college. When bought properly, a life insurance policy can give kids a sense of financial security as they make the transition into adulthood. However, almost 70% of all single parents don’t have this important coverage, and most cite the reasons mentioned below.
There’s Already a Plan in Place
Parents often speak with family members and friends who agree to raise one’s children if something tragic happens. However, these people may not consider the significant financial burden of raising children. It costs almost $250,000 to raise a child until the age of 18, not including college tuition. By naming a guardian as a life insurance beneficiary, parents can ensure that they have the financial capacity to provide for their children even after death.
Parents Already Have Work-Sponsored Coverage
If a parent is lucky enough to work for a corporation that offers life insurance in a benefits package, that’s great-;but they shouldn’t rely solely on it. The coverage an employer offers might not be sufficient to cover the expense of burial and subsequent childrearing, and unless the parent has tenure, job security is in doubt. An employer-sponsored life insurance policy expires when one’s employment does, and if a parent has a pre-existing condition, finding life insurance through an Insurance Agency in Weymouth MA may be difficult or impossible. You can also visit them on Facebook for more information.
