Term Life Insurance for single parents

How to make sure you take care of your kids if the unthinkable should happen to you?

Get info.

If you’re depending upon a noncustodial parent to provide support for the kids, make sure that person is carrying adequate insurance, too. Find out the details of the policy. How much coverage is there? Where is it held? Are your children the beneficiaries?

Figure out how much you need for yourself.

A very rough rule of thumb continues to be 6 to 10% of your salary. But you could add more to cover college for your kids, the cost of your funeral and even the payoff of your mortgage. It is cheaper to roll those costs into one life insurance policy than it is to buy separate and specialized policies for each one.

Buy a term policy.

That is the simplest and cheapest way to get coverage; you buy a benefit for an annual premium that is guaranteed for a certain term (30 years is a good number now, with kids coming back after college and still needing support). There’s no cash built up in the policy, but costs are quite low.
Get a free quote with an independent  agent such as Mintco Financial, so they can shop for you the best rates. Here it is the link: http://www.mintcofinancial.com/quotes/term-life-insurance-quote/

Or if you prefer call 813-964-7100 and they will give you a quote according to your situation.

Pass it around.

Keep information about your policy with the rest of your estate documents, and let the people who will be in charge of your estate and your kids know how to find it. If you want to do a little bit of bragging about your new policy, go ahead. Covering your kids’ futures with a good policy on your life is just one more way to be a good parent. As a matter of fact, you could treat yourselves to pizza for dinner on premium-sending nights. You deserve it.