When it comes to breeding of children, their list of pending tasks may seem endless, from registering in school activities, to projects at home, to future planning. It seems that as soon as you check something, some more pending tasks jump directly to the list.

If he is a single father, that list can be even longer, and more complex, especially if you are the “unique” of your children. And you could be feeling the pressure: Three quarters say they felt overwhelmed to become a single fatherand more than a quarter (27%) admit to being very Overns, according to the new Life survey, “single parents and the financial future.”

In addition, single parents say they would need a minimum of $ 332,705 in savings Feel comfort for raising your child. In fact, ensuring that their children are well financially is something that the average single father thinks Five times a day on average

However, four out of 10 single parents admit that they did not begin to plan their children’s financial future until their children were between 4 and 6 years old, or even later. Only 10% began before their child was born, according to the data.

Do not leave it at random

Does any of this sound like you? If so, have you asked: “What would happen if I was no longer in the image? Where would money come to take care of my children?

More than a quarter of the single parents surveyed (28%) say they would allow others to raise money on a crowdfunding site to keep their children. Only half says they have bought life insurance To protect the financial future of their children if someone else had to take care of them.

Since life insurance is an affordable solution, why don’t you consider more single parents? The truth is that most people overestimate the cost of life insurance in three times or more (2023 insurance barometer for life occurs and limra). Therefore, it is logical that if people think they would be outside their price range, they would not even consider it.

But we are going to put it in perspective: A 30 -year -old healthy young man can obtain a level life insurance policy of $ 250,000 of 20 years for around $ 200 a year. That works about $ 4 per week. And if something happened to him, that $ 250,000 would be used to ensure that his son’s future was everything he dreamed of it would be.

If you need any inspiration (or motivation), see Summer’s story here. She was a single young mother who, tragically, was hit by a car and killed when she was 22 years old. His son, Nathan, was only nine months old. When she was pregnant, she established a life insurance policy for only $ 12 a month that assured that Nathan’s future would be brilliant regardless of what happened.

Do not allow you not for sure how much or what kind of life insurance buy prevents you from obtaining coverage. To start, you can make a quick calculation with our life insurance needs calculator to have a general idea of ​​how much you may need. And if you want help to choose the appropriate type of policy that fits your budget, you can speak with an insurance professional at no cost or obligation. If you do not have someone to work with, you can use the Life Oction agents locator here.