Lisa Horowitz +
Life Insurance
As a single mom, you’re the one person who’s always there for your child no matter what. That’s why it’s important to make sure you have a reliable plan in place to help protect your family.
As a single parent, you want to do everything in your power to make sure your child is financially protected if anything happens to you.
Proper planning is vital to the overall wellbeing of yourself and your family. Proper planning begins with an awareness and understanding of what is
available to you. You might need to learn about the various ways in which we save/plan for our futures. Proper planning will include saving for emergencies, education and retirement. Life insurance can create a safety net for your child’s everyday expenses while also taking care of long-term concerns, such as a college education.
It is meant to replace income and neutralize any debt left by a deceased parent before their child reaches an age of financial independence.
Why you need life insurance?
If there’s a stay-at-home parent in your household without an income, life insurance is still vital to your family’s future. While the stay-at-home parent/caregiver may not earn a
paycheck at all, the value of their unpaid labor is immense. In fact, according tosalary.com, the median annual salary for stay-at-homes in 2019 was estimated to be $178,20.
If the worst happened, all that they do every day would need to be replaced.
Whether you are the primary breadwinner for your household or a shared breadwinner, your days are busy building a future for yourself and for the ones you love. If something were to happen to you, life insurance can help provide them with the financial protection they may need to carry on.
Additionally, If you’re caring for your own family as well as older parents or relatives, you’re not alone. Nearly half (47%) of adults ages 40 to 59 care for an elderly parent while supporting a child.1 Called the sandwich generation, they help cover healthcare costs, adult daycare, or transportation for extended family members in addition to their own.
Life insurance can help cover costs of all that you do if something tragic were to happen.