Term Life Insurance for Single Mothers

Term life insurance for single mothers can be as low as $1 a day. Compared with other types of life insurance, term life insurance offers the lowest rates for the most amount of coverage, which makes term life insurance a good option for single mothers. Read our guide to compare quotes for term life insurance for single mothers for free.

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Tim is a licensed life insurance agent with 23 years of experience helping people protect their families and businesses with term life insurance. He writes and creates stuff for QuickQuote and other insurance and financial websites.

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Benjamin Carr was a licensed insurance agent in Georgia and has two years' experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

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Reviewed by Benji Carr
Former Licensed Life Insurance Agent

UPDATED: Jul 19, 2021

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There were 12.2 million single-parent families in the U.S. in 2012, according to the U.S. Census Bureau. Of those, over 84 percent were headed by single mothers. That’s roughly 10.3 million single mothers, 45 percent of whom never married. The remaining 55 percent were either divorced, separated or widowed. Most would agree, being a mother is the most difficult ‘job’ there is. If this is true, imagine how much more challenging it is to be a single mother.

The Need for Life Insurance

All families need some form of life insurance. This is especially true of single parent families. The loss of the sole breadwinner’s income can create a tremendous burden for the surviving dependents and their caregivers. According to a recent LIMRA study, single mothers without life insurance are more likely to depend on family and friends to cover the financial burden they leave behind. Sources of support available to surviving dependents include:

  • Family & Friends – 50%
  • Social Security – 40%
  • Savings – 20%
  • Earnings of Others – 20%
  • Retirement Funds – 18%

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A Case for Term Life Insurance

The U.S. Census Bureau shows about 25 percent of single mothers have an income that places them within the middle class. Yet, data from The Pew Center shows single mothers make just 60 percent as much as married mothers. One possibility for this difference is because many single mothers simply work less due to their increased responsibilities at home.

It’s no surprise that life insurance ownership increases along with income, as illustrated by this data from – again – the U.S. Census Bureau.

Income Own Life Insurance
Below $25,000 38%
$25,000 – $34,999 69%
$35,000 – $49,000 77%
$50,000 – $74,000 84%
Over $75,000 92%

When there are bills to be paid and food and clothing to be bought, life insurance naturally falls to the bottom of the list. The solution to this problem is term life insurance. Term life offers the lowest premiums for the most amount of coverage when compared to other types of life insurance. Many people do not know this, but a healthy single mother can buy a $500,000 policy for less than a dollar a day. One dollar! Take a look at these rates for a 20-yr term life policy with a Preferred rating class (second lowest rate available).

<b.Age <b.Minor Illness <b.Moderate Illness <b.Severe Illness
45 $28,610 $62,466 $117,180
55 $31,800 $72,970 $131,382

With premiums for term life insurance this low, coverage may be more affordable than you previously thought. If you are a single mother in need of this valuable coverage, talk with an agent or go online to view term life insurance quotes.

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