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Protecting and meeting the needs of the family alone as a single parent is not easy. Apart from having no friends to talk to about various things, single parents are also required to have the ability to provide what their families want and require, as well as those who still have partners.
Is it difficult? Of course, but that doesn’t mean you can’t. Now all the needs even to prepare for the future can be easily fulfilled. One of them is to have insurance.
So, do you, who are also single parents, already have one?InsuranceWhat
Why is having insurance mandatory for single parents? The answer is insurance is important for everyone, including single parents. Because insurance can help single moms/dads cover costs for several needs such as the cost of children’s education as well as emergency situations such as treatment and hospitalization when sick and also compensation for children when they die.
More specifically, here are the types of insurance that single parents must have to protect personal and family finances:
Life Insurance #
In simple terms, life insurance is a type of insurance that aims to cover a person or family against unexpected financial losses due to the death of the insured. In addition, there are several life insurance products that can even cover debts borne by customers so that the family members left behind do not have to bear it.
Because the most important benefit of life insurance is that it can protect the insured from various forms of disaster risk that may occur in the future. For example, the head of the family dies due to an accident or any cause that causes loss of livelihood.
Single moms/dads can think that buying life insurance is another alternative in saving money so that they can be passed on to their children or grandchildren later.
Health Insurance #
Health insurance is a type of insurance product that specifically covers the health or treatment costs of insurance customers if they fall ill or have an accident.
So with health insurance, you as a single parent no longer need to worry about sudden expenses for treatment and hospitalization if a family member gets sick or has an accident. Because all costs are covered by insurance.
You just need to look for insurance products that fit and suit your family’s needs. Don’t forget to choose a health insurance product with a cashless system, so you can be served immediately without having to prepare funds in advance.
Education Insurance #
Apart from health, one thing that must be well-prepared, especially in terms of costs, is the education of children.
According to research, the average increase (inflation) in the cost of education is 10-15% per year in my country. With this high increase, of course, parents are required to be able to prepare carefully so that the child’s goals can be achieved properly because their educational needs are well met.
For this reason, the constraints on the preparation of education costs can be minimized as small as possible, education insurance is an important element that must be present in planning the preparation of education costs for every parent.
Education insurance is a type of insurance that provides protection for children’s education in the future, accompanied by investment. Another reason why it is important to have education insurance is because the cost of education continues to increase.
The main benefit of education insurance is that it can make parents have enough savings to pay tuition when their children enter school. In addition, there are insurance companies that continue to provide a living in the event of risks such as layoffs, accidents to disability to death.
Vehicle Insurance #
For single moms/dads who have private vehicles, of course, they must have vehicle insurance. The point is of course to protect finances from unexpected events that can happen to your vehicle. Especially if the vehicle is used actively, for example working and taking children to school.
By having vehicle insurance, you no longer need to worry about making expense posts or emergency funds for the cost of repairing the vehicle when it is damaged because the costs are already covered by insurance.
The Conclusion #
Have the Insurance, Complete the Financial Planning
Healthy finances are finances that have insurance elements in them. Maybe now the cost of monthly insurance premiums seems to be a burden in your current expense post.
But that can change immediately when a risk occurs, where insurance becomes the main tool in protecting finances from bankruptcy and waste to cover costs that should come out when a risk occurs. So don’t wait any longer to buy insurance.
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