As a single parent, you have the same financial problems with other single parents so that you do not have a partner to share the financial problems. You may be worried about the financial decisions you make, because you are responsible to the needs of the future of your children and your needs. By doing some of these tips, you may feel more confident about the future financial life.
1. Make sure you have adequate life insurance
Life insurance is very important for people who have a child. So you know that the financial future of your children will be safe. How much life insurance you need depends on the number and ages of children, income level, debt levels and asset values. A good landing is to buy coverage at six to eight times your annual salary.
If you are interested to move the loss of earnings or cover the debt, you can choose a term life insurance, life insurance is sometimes more effective. Or you can buy a cash value life insurance can help make saving for retirement or children's education and also provide benefits to their heirs at death.
2. Buy disability insurance
Disability insurance is very important for single parents. If you are experiencing pain or disability, to stop working, can interfere with family finances. Your insurance only covers medical expenses, but does not cover loss of income. Disability insurance policy aims to divert a portion of their income, usually ranging from 50% to 70% when you can not work. You can get coverage for short or long term through your company.
Life insurance is very important for people who have a child. So you know that the financial future of your children will be safe. How much life insurance you need depends on the number and ages of children, income level, debt levels and asset values. A good landing is to buy coverage at six to eight times your annual salary.
If you are interested to move the loss of earnings or cover the debt, you can choose a term life insurance, life insurance is sometimes more effective. Or you can buy a cash value life insurance can help make saving for retirement or children's education and also provide benefits to their heirs at death.
2. Buy disability insurance
Disability insurance is very important for single parents. If you are experiencing pain or disability, to stop working, can interfere with family finances. Your insurance only covers medical expenses, but does not cover loss of income. Disability insurance policy aims to divert a portion of their income, usually ranging from 50% to 70% when you can not work. You can get coverage for short or long term through your company.
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