Genworth recently did a survey showed 69% of single parents don’t have life insurance. It doesn’t have to be. Term life insurance is inexpensive. You can probably find something for under $20 a month. For example here are a few quotes for male age 45.
| Monthly Premium | Face Amount |
Product | Top Carrier | Male, age 45 |
| $10.95 | $100,000 | 10 year term UL | Genworth | at preferred plus |
| $20.45 | $100,000 | at standard | ||
| $18.31 | $250,000 | at preferred plus | ||
| $35.65 | $250,000 | at standard |
Woman’s rates are even less expensive. If your kids are young, ideally you’d get 20 year term or whatever length to get them past college age. But if you’re on a budget, 10 year term will do fine. Something is better than nothing.
Applying is not that time consuming. The agent asks a few questions; you complete and sign an application and take a blood test. That should take about an hour. Genworth is the best for term.
You don’t want to leave your kids in the lurch.