What is the best type of life insurance when factoring in the support of a young child, for a single mom?

Question:

Answers:
Ins on the Mom.or Dad.or kids?

Depends on what your financial situation is, goals, etc. Get with a knowledgable insurance rep, have them explain the differences of the products available

Other Answers:
Whole life insurance is definitely better for a young child because it builds dividends and cash value. Furthermore, the price of whole life insurance will never change even as the child grows. In addition, by purchasing life insurance for your child at a young age, you are guaranteeing their insurability later in life regardless of any disease or ailment they may, gosh forbid, have.

Depends on your age. If you're a single mom with a young child, you probably want maximum coverage at the most affordable rates to fit your budget.

Level term life insurance can fill this need for you. You can compare quotes online from several carriers. Make sure they are "A" rated insurers. Also, you'll want to make sure the rates are guaranteed for the entire period you want the insurance. For example - a 20 year level term life insurance policy. That way the rate will stay the same each year for the full 20 years.

You can learn more about your term life insurance options here: http://www.term-life-online.com/term-life-insurance-guide.html

More Questions and Answers

The consumer health information on youqa.com is for informational purposes only and is not a substitute for medical advice or treatment for any medical conditions.
The answer content post by the user, if contains the copyright content please contact us, we will immediately remove it.

What is the best type of life insurance when factoring in the support of a young child, for a single mom?

Health Resources