12 Life Insurance Tips for Single Moms

Being a single mom is one of the hardest jobs in the world and if someone says otherwise – don’t listen to them. They don’t have a clue what they’re talking about, but anyway…

Single motherhood is hard as it is, but when you add in the responsibility of being the main (and often only) source of financial support for your family, it can be downright overwhelming.

One way to ease the financial burden and provide some peace of mind for yourself and your family is to get life insurance. But with so many different types and options available, it can be difficult to know where to start. So, we’re here to help.

Here are 12 tips to help you get the best life insurance policy for your needs as a single mom!

1. Get Life Insurance

The first step is obviously to get life insurance, but this can be easier said than done. If you’ve never had life insurance before, the process can seem daunting.

As a general rule of thumb, as a single mom, choose between decreasing term, level term or whole of life insurance, depending on your situation. Each of these comes with its own set of pros and cons, but all of them will keep your family safe and financially stable if something were to happen to you.

Source: freepik.com

2. Compare Rates From Different Insurers

There are a lot of life insurance companies out there and they all have different rates. It’s important to compare rates from different insurers to make sure you’re getting the best deal and not getting ripped off.

Remember, insurance companies aren’t in this business to help you out – they’re here to make money. And, in order to make money, they have to lure new customers in. How do they do that? By offering better rates than their competitors. So, capitalize on that!

3. Consider Your Needs And Budget

When you’re looking at life insurance policies, it’s important to consider your needs and budget. How much coverage do you need? What can you afford to pay in premiums? Do you want your premiums to go up or down as time passes? How do you pay that and the mortgage/rent at the same time?

All of these questions need to be answered before you sign on the dotted line, so think carefully.

Source: freepik.com

4. Look For A Policy With Good Value For Money

Value is important when you’re buying life insurance. You want to make sure you’re getting a policy with good value for money. That means getting a policy with the right amount of coverage for your needs at a price you can afford.

Nothing less than that should even be considered. After all, you’re a single mom with kid(s) to take care of and no one to rely on but yourself – you can’t take any bad deals.

5. Make Sure The Policy Is Appropriate For Your Needs

Not all life insurance policies are created equal. There are different types of policies designed for different needs. Make sure you’re getting a policy that’s right for you and your kids.

That means you probably don’t need a policy with a death benefit of $1 million if you’re only looking to cover your mortgage and other debts – a smaller policy will do just fine.

Source: freepik.com

6. Read The Terms And Conditions Carefully Before Buying A Policy

The terms and conditions of a life insurance policy can be complex, and incredibly boring to get through – but you must do it. You’re not installing a piece of software on your computer – there’s no glossing over it.

So, before you buy the policy and sign the papers – take your time and read through everything. If you don’t understand something – figure it out. Then, and only then, should you buy the policy.

7. Check Whether You Are Eligible For Discounts On Your Premiums

Some insurers offer discounts on life insurance premiums if you meet certain criteria. For example, you may be able to get a discount if you’re a non-smoker, are particularly healthy, or if you have a good driving record. And, who knows – maybe some of these insurance companies offer discounts for moms? You won’t know unless you view here.

8. Make Sure You Renew Your Policy When It Expires To Keep Your Coverage In Place

Life insurance policies typically have a term (unless they’re whole life policies), which means they expire after a certain period of time. Once they do, it’s important to make sure you renew them so you don’t lapse in coverage.

9. Ask Questions If You Don’t Understand Something About Your Policy Or How It Works

If you have questions about your life insurance policy or how it works, don’t hesitate to ask. Your insurer should be able to answer any questions you have. And, if you find that they’re avoiding some of your questions or that they aren’t providing you with clear enough answers – consider consulting with a lawyer – preferably one practicing insurance law.

Source: freepik.com

10. Choose A Reputable Insurance Provider

There are a lot of insurance providers out there, and not all of them are equal would be a gross understatement. Some are more reputable than others, and some are more affordable than others, and some are simply there to be avoided.

So, when you’re looking for an insurance provider, it’s important to do your research and choose one that’s reputable and that you feel comfortable with.

11. Get Expert Advice Before Buying Life Insurance

If you’re not sure which type of policy is right for you, it’s a good idea to get expert advice before buying. An independent insurance agent can help you compare policies and find the right one for your needs, and many of them will be more than lucky to help a single mom out.

Source: freepik.com

12. Make A Will And Appoint An Executor

When you have life insurance, it’s also important to make a will and appoint an executor. This ensures that your wishes are carried out after you die and that your family is taken care of financially.

If your kids are responsible and/or of age – appoint them. If not, appoint an executor that will take care of their needs after you’re gone.


Making sure you have the right life insurance policy in place is an important part of being a single mom. By following these tips, you can find a policy that’s right for you and your family and sleep peacefully at night. Take care.