Make dreams a reality with term life insurance
From work, parent-teacher meetings and coaching your child’s soccer team to homework, laundry, and cooking dinner: as a single parent, you do it all. And while it sometimes feels as if you’re carrying the world on your shoulders, one thing remains true: your kids depend on you and only you. Would their future be secure if you weren’t around for them tomorrow?
Enter term life insurance
Term life insurance serves as a safety net, helps replace income lost due to premature death, and secures the payment of future debts and the achievement of financial goals such as:
- A home mortgage
- Tuition or childcare costs
- Student or auto loans
- Credit card balances
- Medical bills
- A wedding or special trip
The bottom line: The benefit from your term life insurance policy will have your children covered far into the future. We’ll leave the homework and laundry up to you.
Financial checklist for single parents:
- 1. Update your estate-planning documents
- 2. Organize and store your important documents in a secure location
- 3. Create a budget
- 4. Purchase life insurance or update your existing coverage
Is it affordable?
The short answer is yes, very. Term life insurance offers the most death benefit protection at the lowest cost. And there are no surprises because the premium remains the same during the selected level period.1 It’s important to note that after the level period, the premiums will be increased annually until age 85.
Additionally, before the end of the level term period or before age 70 — whichever is first — you’ll have the ability to convert some or all your term insurance to whole or universal life insurance, offering you lifelong protection and the potential for cash value growth.
A 35-year-old non-smoking female could buy a $500,000 20-Year Term policy for as low as $20.75 a month.2
So if you think you need coverage — or more than you currently have — start your quote now or give us a call at 800-650-4391. Our agents can offer you expert guidance and help you find the right solution.
1This is for level premium term life insurance.
2 This rate is for a female, age 35, best class, 20-Year term policy with a face amount of $500,000. Monthly premiums are available only when using SBLI’s Automatic Payment Plan. Rates vary by age, gender, health, and amount of insurance.SBLI Term Life Insurance policy form series B-56. (2/24)
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