Single Parents Need LIFE INSURANCE More than Anyone
More than one out of every three single mothers is without life insurance. Single parents may need life insurance the most. Your offspring depends on you the most. Having a life insurance plan covers them. Life insurance is more for your loved ones than you.
‘Not Working’ Doesn’t Translate to ‘No Financial Value’
Being a stay-at-home mother does not mean that you do not have any financial value. If it was not for you, the costs of all of the duties you perform everyday would add up significantly. Think about it the cost of having a house cleaner, cook, and childcare provider will be astronomical.
If something happens to you, your spouse will have to pay for these services or work less, which both amount to losing more money.
Life insurance policy amounts are largely based on personal income (or in your case, the equivalent), so getting one means your family can maintain their standard of living should something happen to you.
A Term Life Policy Could Be All You Need
Many people do not know that there are different types of life insurance policies. There are term life insurance policies that do work for many people. You can purchase a term life insurance policy for a specific period of time. Usually term policies can be used for 10 to 30 years.
Policies Are Generally Cheaper for Women
Obviously, this is good news, and it is just one more reason to get one. Women, on average, have a longer life expectancy than men, which means insurance providers see you as being a less risky client. This means lower premiums. On this note, you should also know that in general, the younger you apply for insurance, the cheaper it will be (but only if you’re healthy, some individuals heath does not allow them to qualify for lower premium rates, which is why another option for those is a no medical exam life insurance policy).
The contemporary life insurance market is way more extensive than a source of income for beneficiaries when catastrophe strikes. With a plethora of options, these plans offer you and your entire family peace of mind, and often give your money investment opportunity to allow you to enjoy the money invested during your lifetime.
Choosing the perfect life insurance plan depends as much on your financial needs as it does on your health class rating. We will assess all factors and guide you through every option until we find the perfect plan for you.
Cosmo Insurance Agency is knowledgeable in various options including but not limited to – term, ROP, permanent and whole - from over two dozen A rated carriers. We are familiar with the rate classifications that particular carriers use to determine the health class of enrollees – and there are significant differences between them. No matter what the results of your medical examination are, we will find the insurer that will provide you will the best rating class and thus the lowest premiums.
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