Stafford, Texas
10701 Corporate Dr, # 103
Stafford, TX 77477
(281) 494-1500

A Single Parent's Introduction to Life Insurance February 11, 2019

Stafford, Fort Bend
A Single Parent's Introduction to Life Insurance, Stafford, Texas

When you are the sole caregiver for your children, your presence in their lives and ability to provide for them are critical. This means that a solid financial plan—including life insurance—is essential. If you are a single parent who does not yet have coverage, below is everything you need to understand about life insurance.

What Single Parents Should Know About Life Insurance

It Isn't Expensive

The cost of life insurance may be much more affordable than you'd expect, especially for the amount of protection it provides. Rates vary based on age and health, but a single parent under the age of 35 can expect to pay about $15 per month for $250,000 worth of coverage, and between $35 and $40 per month for a $1 million policy.

Life Insurance Can Pay for Many Expenses

Life insurance in Stafford, TXWhen choosing the amount of coverage, be aware of what the death benefit can accomplish. It could pay for funeral expenses. A family member could use it to pay for your children’s expenses. If a new guardian is able to move in, the death benefit could pay off your mortgage. It could also pay for college tuition. Consider what you wish to provide for your family, even if you are no longer there to do so directly, when picking a policy.

You Can Buy Term or Permanent Insurance

If you feel you only need coverage until your children have reached adulthood, purchase term life insurance for a specific number of years: typically, 10, 20, or 30. It’s both easy to qualify for and inexpensive. Rates stay the same until the term expires, at which point you'll pay more per month if you renew. If you prefer permanent insurance which lasts until you die, rates stay the same for life. The policy may have an investment arm so you can save for retirement.

 

To discuss your life insurance options with a friendly, experienced agent, contact JMS Insurance Agency in Stafford, TX. They have been serving clients in Fort Bend, Montgomery, and Harris counties for more than 20 years. This experienced agency also carries high quality business, auto, RV, and home insurance. Visit their website or call (281) 494-1500 to request a quote.

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