A fundamental piece of advice for single mothers
A fundamental piece of advice for single mothers. People who have been living in the USA for a longer time often advise young individuals, “this is a country for two, a country to live in as a family.” They say this because they believe it’s the best way for immigrants to build wealth and have a roof over their heads. “It’s easier to save together,” “look for a rental,” “if one falls ill and has to stop working for a while, the other is there to help.” It’s true that when we lose our job, the supportive hand of a partner often comes to the rescue.
But life isn’t always as we plan or dream it to be, and sometimes we find ourselves as single mothers. Statistics say that over 40% of children in Florida live in households led by single mothers, which amounts to 1.4 million children. The entire weight of the family falls on the shoulders of these mothers – worries, the child’s illnesses, household expenses, school, managing the home. And what happens if that mother were to be absent?
The best guarantee a single mother has to secure her children’s financial future, should she not be there, is to get life insurance. This financial tool can generate a death benefit to cover the child or children’s financial needs, such as food, housing, clothing, healthcare, and future education. It might be enough to replace the income of the deceased mother.
The life insurance benefit can also be enough to cover any debts incurred by the deceased person, including car loans and mortgages, ensuring the financial protection of loved ones.
The older folks are right, this is a country for two, but if someone has to carry the entire weight of the family, the best option is to get life insurance, just in case life takes an unexpected turn.
Usually, life insurance is very affordable for young individuals and represents guaranteed financial well-being for their children. A fundamental piece of advice for single mothers.