Here’s how life insurance can address the top concerns of single moms:

Half worry about leaving their kids in a tough financial situation.² Bills, housing, and car payments can add up quickly, but if you were no longer there to provide for your children, would they be ok financially? Life insurance may be much more affordable than you may think. Often, a small monthly premium can provide a large payout that can help ensure your children will have the financial support they’ll need.

40% worry about the ability to provide for their children’s educations.³ Life insurance can help ensure that long-term dreams can be realized, even if you’re not there. If you plan to send your children to private school, pay for extracurriculars, or establish a college or savings fund for them, life insurance can ensure those plans and dreams live on.

Over half of single moms with life insurance feel financially secure, compared with just 30% who don’t have coverage.⁴ Life insurance creates a safety net to provide for your children’s everyday expenses, care, and continuing education. The emotional security that comes with life insurance can help alleviate financial concerns.

A major reason so many single moms forego life insurance is the cost. But if you don’t want to leave your children in a tough situation, life insurance is something you can’t afford to be without. If you’re a single mom on a tight budget, term life insurance can be a cost-effective solution. A 10- or 20-year policy can protect your children through young adulthood, and coverage is not as expensive as you may think.  Premiums are based primarily on your age and health, so the younger and healthier you are, the cheaper the price.

Life insurance is a smart idea for most families, but in single-parent households, the need is even more important. If you’re among the two-thirds of single mothers who don’t have life insurance or who need more, it’s time to get covered.

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^1,2,3,4 2023 Insurance Barometer Study, Life Happens and LIMRA.