Financial Impact of Premature Death On Different Types of Families
Single People
The number of single people has increased in recent years. Younger adults are postponing marriage, often beyond age 30, and many young and middle-aged adults are single again because of divorce. Premature death of single people with no dependents to support or other financial obligations is not likely to create a financial problem for others. Other than needing a modest amount of life insurance for funeral expenses and uninsured medical bills, this group does not need large amounts of life insurance. One exception is a single parent who has child-support obligations. Premature death can create a serious financial problem for the surviving children.
Single-Parent ...
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