Financial Dimensions LTD

Term life insurance is both the simplest type of insurance and the least expensive. This type of policy provides coverage for a specified period of time. If the insured doesn't die within that period of time, the policy then lapses.

If you're a single parent, you naturally want to make sure you have the longest policy possible to protect your children. However, don't think you have to insure them forever. Just cover them long enough until they can support themselves.

Choosing your insurance beneficiaries can be a challenge for some, especially if there is someone you’d like to include who is not financially responsible. You may want to consider trusts for as beneficiaries if you are concerned that your child or spouse may be unable to manage the money properly.