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What is the best type of life insurance when factoring in the support of a young child, for a single mom? |
What is the best type of life insurance when factoring in the support of a young child, for a single mom? Ins on the Mom...or Dad...or kids? Whole life insurance is definitely better for a young child because it builds dividends and cash value. Furthermore, the price of whole life insurance will never change even as the child grows. In addition, by purchasing life insurance for your child at a young age, you are guaranteeing their insurability later in life regardless of any disease or ailment they may, gosh forbid, have. Depends on your age. If you're a single mom with a young child, you probably want maximum coverage at the most affordable rates to fit your budget. |
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