Life Insurance as a Single Parent

Life Insurance Family Insurance

Life Insurance as a Single Parent

Being a single parent is undoubtedly tough and looking at life insurance quotes is never fun. It is never too early to look into life insurance. At AWS, we provide the best insurance quotes in Louisiana.

Life insurance provides a financial safety net and is an important financial tool for all parents, married or single. However, a recent study turned up a misconception. 82% of respondents to a recent survey said married people with a young child or children need life insurance, while only 60% said single people with a young child or children need coverage.

Many insurance professionals are skeptical of this data stating that the need for life insurance by single parents is equal to, if not greater, to married parents. If anyone would be hurt financially by your passing, then you need life insurance. Even if you don’t earn income! This is because life insurance pays out the person insured under the policy if they pass away. The money then goes to the beneficiary, who is named by the person who buys the coverage.

It’s important to know the two main types of life insurance: term and permanent.

TERM LIFE INSURANCE

This type of insurance covers you for a certain period such as 10, 20, or 30 years. It pays out if you die within the term and is sufficient for most families. Many people choose this type of life insurance because it is the cheaper option.

WHOLE LIFE INSURANCE

This type of insurance is a permanent policy that will cover you for your entire life including a savings known as cash value. This savings component grows slowly and after years of growth, the policy owner can borrow against the cash value or give up their policy for the cash value.

When it comes to making the decision on what type of life insurance you should purchase, AWS Insurance has a highly experienced team that will help you pick the insurance that is best for you and your loved ones. If you are in the Louisiana area and are looking into purchasing life insurance, AWS is here for you.

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Melinda Martin

Account Executive

Melinda began her insurance career in 1985 with Alexander & Alexander where she received her Property & Casualty and Life & Health license. Since then she has worked at various agencies in the New Orleans area and in California as a senior account manager for Employee Benefit Plans.  While in California, she was also the Membership Director for the Burbank Chamber of Commerce. Melinda joined the AWS team in July of 2015.

Michael A. Seeling

Vice President

Graduated from the University of Louisiana at Lafayette with a B.A. in Insurance Risk Management and is a graduate of Archbishop Rummel High School in New Orleans. He joined AWS in October of 2008 and has been awarded the Patient Protection and Affordable Care Act Certification (PPACA). Additionally, he is working towards his Certified Insurance Counselor (CIC), Registered Health Underwriter (RHU), and Registered Employee Benefits Consultant (REBC) designations. He is also a member of the National Association of Health Underwriters (NAHU), National Association of Insurance Financial Advisors (NAIFA), and is an active member of the Fore!Kids foundation.