Insurance Tips For Single Parent

As a single parent, you have the same financial concerns with others so you do not have a partner to share the financial problems. Because you are responsible to the needs of the future of your children as your needs, you may be worried about making financial decisions. Doing some tips below, you may feel will be more confident with the financial life in the future.

1. Make sure you have enough life insurance
Life insurance is very important for people who have dependent children. You'll find that finance your children the days to come will be safe. How much life insurance you need depends on the number and ages of your children, income level, debt level and the value of your assets. A good landing is to buy coverage from six to eight times your annual salary.

If you are interested in moving your income loss or debt mengkover you, you can choose the term life insurance, which is sometimes the most effective of the life insurance costs. Or, you may buy a cash value of life insurance which can help you make saving for retirement or children's education and also provide benefits for your heirs when you die.

You will need to select a beneficiary for life insurance policies are more cautious. When you call your child sebegai beneficiaries, this may cause problems if they are minor. Insurer will not make settlement directly with the minor. Talk to your insurance agent and financial advisor to determine the best option for you.

2. Buy disability insurance
Disability insurance is very important for the single parent. If you are experiencing pain or disability so that you stop working, your family finances will be dangerous. Your health insurance mengkover only medical expenses but not mengkover lose your income. Disability insurance policy aimed to remove part of your income, usually ranging from 50% to 70% when you can not work. You may get a short-term coverage or long-term through your company. If you do not have, buy it. This may be expensive but the protection offered is very valuable for your survival.

Take a few tips for you on a single parent. This will provide assurance over the future of your finances life. Good luck!

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