What should a single parent do with the life insurance proceeds of their child’s other parent?

If your child’s other parent makes you the beneficiary of their life insurance policy and they pass away, there are many things you can do. If you are still providing full time financial support for the child and the child is a minor, you might consider having some of the funds put into a trust with you as trustee, and some of the funds in a bank account specifically set up for educational and other expenses.

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How much life insurance should a single parent have?

How much life insurance a single parent should buy depends on such factors as where the child will live if you should die, will they live with someone who can afford to support them, and the needs of the child after you die in terms of education, health or medical costs.

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