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Dianne Williams Wildt, MBA
Certified Retirement Counselor®
Since 1983 in the financial services and investment industry
Retirement Pathways, Inc.
4500 Bowling Blvd., Suite 100
Louisville, KY 40207
Phone: 502-797-1258
Email: dianne@retirementpathways.com
Website: www.retirementpathways.com
Pew Research Center analysis of 2017 census data found that one in four parents was unmarried, a sharp increase in recent years. More parents also have unmarried partners than in the past, which doesn’t change the fact that most parents — especially single ones — should have life insurance.
Unmarried couples can name each other as beneficiaries if they can prove they have an insurable interest in each other because they provide financial or other support. Then, if the unthinkable happens to one of them, the other could keep their financial ship afloat with life insurance proceeds.
In contrast, single parents living with their minor children, but without a partner, have to depend on themselves. They likely need life insurance, and also the legal documentation that addresses their children’s care if the parent is out of the picture.
There’s a life insurance policy for everyone. If your budget is tight, purchase what you can through an employer, who likely offers group life insurance at a lower cost than individual insurance. You might start with term insurance, which is pure life insurance. This type of insurance does not build cash value and premiums increase with time, but it does offer the all-important death benefit. You might look for policies you can convert to whole life insurance, which can accumulate cash value and features premiums that remain the same, should your financial situation improve.
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Investment advisory services offered through American Capital Management, Inc., a State Registered Investment Advisor. Retirement Pathways, Inc. is independent of American Capital Management, Inc.
Retirement Pathways, Inc. and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.
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