Life insurance is a contract between an individual and an insurance company, where the insurance company agrees to pay a sum of money to the individual’s beneficiaries upon their death. Life insurance for single parents is specifically designed to provide financial protection for the children of single parents in the event of the parent’s death.
Life insurance for single parents is important because it can help to ensure that the children will have the financial resources they need to continue living comfortably in the event of the parent’s death. This can include providing for the children’s education, housing, and other expenses.
