The number of children raised in a single parent household continuously grows. There are approximately 13.6 million single parents in the United States and these parents are responsible for 21.2 million children. According to the U.S. Census Bureau, 79% and 92% of custodial single mothers and fathers are gainfully employed, respectively.
Single parents face many struggles in responsibly raising their children. Two parents raising a child is an incredibly challenging task, but one parent raising a family is a full-time job. Single parents are faced with loneliness, financial pressure, and the difficulty of balancing children and work.
Single parents are arguably most in need of life insurance because they are primarily supporting their children. In a two-parent household, when one parent dies, the other will take control and provide for the needs of the family, essentially serving as the financial safety net. On the other hand, in a single parent household, the child is entirely dependent on one person. When this parent dies life insurance will serve as the financial safety net. Life insurance can cover childcare costs, education costs, and lost income. It can also cover funeral costs, house payment/rent, and medical bills.
We know your children are sacred to you and that you have done everything in your power to provide for them. Your children rely solely on you. Solidify their future with life insurance. Ensure that they will be taken care of exactly how you would want them to be when you pass away. Death is a scary thought, but you should plan for the unexpected. You’ve worked too hard to leave your children’s future up to chance. We know you’re a busy bee, working longer hours to pay the bills and spending your vacation days cleaning up after the kids, but life insurance is not something to put off. Take a step towards the future and find out what type of coverage you need from a company like SelectQuote..