Life Insurance and Unmarried Mothers and Fathers

Life Insurance and Unmarried Mothers and Fathers

mom-863055_1920One of the biggest reasons why this group of people do not have life insurance is because of the fact that they do not feel a sense of responsibility that a legal marriage brings.

Secondly, in most cases, the entrance of a child is usually an unplanned event.

“Perhaps single parents are holding off on the insurance buy because they aren’t supporting their children; maybe there’s child support coming from another parent who doesn’t live with them. Or maybe they expect that Social Security survivor benefits will tide their kids over. Neither of those are proper solutions. Even a parent who earns no money would leave a financial hole were she to die without planning for where her kids would sleep at night and who would put dinner on the table for them. And those Social Security survivor benefits for kids, equal to 75% of the parent’s benefit, probably would not fill all of those gaps.” (Source: Going Naked: Why don’t Single Parents Have Life Insurance – Fox Business, April 26, 2011) 

Most unmarried mothers and fathers probably assume that life insurance is too costly and therefore shy away from even starting a conversation. The younger they are, the more evasive they are about the the thought of dying prematurely. This is putting millions of children at risk of a severe financial disaster.

There is hardly any discussion on life insurance as financial product in our schools and colleges. As a result most of us walk out with no idea as to how to approach the thought. We keep waking up everyday in the morning lying to ourselves that the life is good and that putting a few messages about positive thinking on Facebook is probably good enough to compensate for our lack of ability to handle truth.

It is interesting to note that most people make sure that their cars, their homes and even their cell phones are insured against loss and damage. How can we then create an organic machine, a human with conscious bubbling with unparalleled emotional connection and fail to protect the future of that being by not establishing an umbrella of financial coverage? With what face can someone claim to love a child and not protect that child against a financial disaster waiting to happen.

The least you can do is to buy a term life insurance policy which happens to be the least expensive, to cover those years of your child when he or she is most vulnerable.

It is time to shake up and wake up.

 

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Comments
  • Gloria
    Reply

    What a cute kid!

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