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Single moms want to do the best they can for their kids – which is why you should consider applying for a life insurance policy.

Why Single Moms Need Life Insurance

If you’re a single mom, you know how hard the day-to-day work of raising kids can be. Many single moms do the entire work themselves—and even if you have a parent or grandparent helping to share the burden, you’ll likely be responsible for managing everyone’s time, making sure everyone’s needs are met and making every important decision that might affect your kids.

This includes the decision to apply for life insurance. Some single moms already know the benefits a good life insurance policy can provide, but may not have taken the time to compare life insurance policies or apply online – even though many life insurance applications take only minutes to complete.

Other mothers may not be aware of the ways a life insurance policy can help protect their family. Term life insurance coverage can help your loved ones maintain financial stability during a worst-case scenario. If losing your income is a problem for your children or extended family, life insurance is one way to cover the financial gap.

Life insurance can also help you leave a legacy for loved ones—whether you’re hoping to help your kids pay for college or whether you want to create the kind of generational wealth that can benefit children, grandchildren, and great-grandchildren.

All parents should consider getting a life insurance policy – and single mothers, who often do their parents’ work at one, have even more reasons to apply for life insurance coverage. Here are six ways life insurance can benefit you and your loved ones:

In this article:

Life insurance can help your loved ones cover the costs of final expenses

Some families don’t realize how expensive it is to pay for end-of-life costs. Ask yourself if your loved ones will be able to afford the expenses associated with the memorial service, burial or cremation – and then ask yourself if a fixed-term life insurance policy will help your loved one not only financially, but also emotionally.

Knowing that there is money to help your loved one celebrate your life can help ease their grief — and prevent them from making the ultimate expenses they can’t afford.

Life insurance can help your children continue their education

Whether you are hoping to enroll your children in college or simply hope to keep them in their current schools, a life insurance policy can help provide the funds you need to help your children continue their education.

Life insurance can also help pay for daycare or nursery school, after-school childcare, summer camps and enrichment activities—all of which are essential parts of childhood. Let grandparents and guardians know you have a life insurance policy, so they won’t have to worry about who will cover those costs if you aren’t there.

Life insurance can help with your monthly mortgage payments

If you are a homeowner, you know how important making your monthly mortgage payment is. A life insurance policy can help pay your mortgage payments after you’re gone If you’re considering a life insurance policy, which covers you for a specific period of time, called the term of coverage (that is, the term), consider matching the length of your term over the life of the mortgage your own to make sure you’ll be covered as long as you still make the payments.

If you don’t expect your children to remain in the family home after your death, keep in mind that a life insurance policy can also help cover the costs associated with moving your children from their current home to their parent’s home.

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Life insurance can help protect your parents’ retirement

In the worst case scenario, your children’s grandparents are more likely to step up and provide either primary or supplemental care — and without financial support, the costs of providing care could put your parents’ retirement at risk.

With a life insurance policy, you can remove some of the financial burden from your parents. This way, your children can get the care they need – and your parents can continue to save for retirement and plan..

Life insurance can help your kids jump into adulthood

Many young people depend on parental support, from their first apartments to their first jobs — not to mention marriages, births, and all the other milestones of adulthood. If you’re not there to provide support yourself, life insurance policy payments can help provide the funds your children need to successfully transition into full adults.

If you plan to have your children on your life insurance policy, you will need to either designate a trustee or set up a revocable trust to ensure the money is looked after until your children reach the age of majority. At that point, they will be old enough to take charge of their finances — and their future.

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Life insurance can leave a legacy for generations to come

There is another reason why single mothers should consider life insurance. A life insurance policy can help you leave this kind of financial legacy that can benefit not only your children, but future generations of your family as well.

Imagine your children starting their adult lives with enough financial stability to help them avoid unnecessary debt, for example — and think about how this might benefit their children in the future. Imagine how a college education can help your children find better jobs – and think about what they might teach the next generation about the importance of learning.

Having life insurance coverage gives you peace of mind – not just for what you can’t expect, but also for what you can. That’s why all parents—especially single mothers, who often do my father’s job at one—should consider applying for a life insurance policy.

Our editorial policy

Haven Life is a customer-centric life insurance agency backed and wholly owned by the Massachusetts Mutual Life Insurance Company (MassMutual). We believe making decisions about life insurance, your personal finances, and your overall wellness can be very simple.

Our editorial policy

Haven Life is a customer-centric life insurance agency backed and wholly owned by the Massachusetts Mutual Life Insurance Company (MassMutual). We believe making decisions about life insurance, your personal finances, and your overall wellness can be very simple.

Our content is created for educational purposes only. Haven Life does not endorse the companies, products, services, or strategies discussed here, but we hope that they will make your life less difficult if they are a good fit for your situation.

Haven Life is not authorized to provide tax, legal or investment advice. This material is not intended to provide, and should not be relied upon for, tax, legal or investment advice. Individuals are encouraged to seek advice from a tax advisor or legal counsel.

Our Disclosures

Haven Term is a life insurance policy (DTC and ICC17DTC in certain states, including NC) issued by Massachusetts Mutual Life Insurance Company (MassMutual), Springfield, MA 01111-0001 and offered exclusively through Haven Life Insurance Agency, LLC. In New York, the Haven term is DTC-NY 1017. In CA, the Haven Term is DTC-CA 042017. Haven Term Simplified is a life insurance policy with a simplified issue term (ICC19PCM-SI 0819 in certain states, including NC) Issued by CM Life Insurance Company, Enfield, CT 06082. Policy and passenger numbers and features may vary by state and may not be available in all states. Our agency license number in California is OK71922 and in Arkansas is 100139527.

MassMutual is rated by AM Best as A++ (Superior; highest category of 15). The rating is as of Aril 1, 2020 and is subject to change. MassMutual has received various ratings from other rating agencies.

Haven Life Plus (Plus) is the marketing name of the Plus rider, which is included as part of the Haven Term Policy and provides access to additional services and benefits at no cost or at a discount. The passenger is not available in every state and is subject to change at any time. Neither Haven Life nor MassMutual is responsible for providing the benefits and services accessible under Plus Rider, which are provided by third-party vendors (partners). For more information about Haven Life Plus, please visit:

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• This was the easiest way I came to research and get life insurance. Fast, simple and shows you the cost etc… Definitely glad I listened to the wife and she looked into it.

• Plan to spend another $20 per month from your initial bid even if you’re healthy. After they went through the test everything went back to the normal (green) ranges but still raised my initial price quote. A little disappointing.

• Easy and smooth application process. Fabulous coverage!

• It was very easy and fast and the rate was better than the estimate. If you are looking for life insurance this is the right place.

• The process was very easy. My doll was made at home. The subscription had some additional questions that we resolved via email. The process couldn’t have been easier and my family is now protected.