As a single parent, money is tight. What if I can’t afford the amount of life insurance I need?
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UPDATED: Jul 16, 2021
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When you are choosing between satisfying the immediate needs of you and your child versus the possible future needs—the choice is clear. Rent or mortgage, bills, groceries and health insurance premiums are probably higher on the priority list than a life insurance policy. But life insurance policies do pay important benefits that your child will likely need if you die an untimely death, so it is still important to attempt to get one. If your budget makes the purchase of a life insurance policy impossible, then you might see if your employer offers an inexpensive group policy that fits into your budget. You could also look into an inexpensive term life insurance policy to provide a benefit during the years your child would need it. In addition, you can look into your fraternal and union groups to see if they have an affordable option.