Affordable Protection for Single Mothers

April 3, 2016

single-mom

It is never easy for a single mother to think about how their children will survive if something were to happen to the mother. The younger they are, the more difficult it is to fathom what could possibly happen. However, when we consider the terrorism that is rampant in the world, and the crime and violence occurring in the cities and towns in the U.S., it is not too hard to imagine.

Sadly, most single mothers, or parents, for that matter do not consider buying life insurance to preserve their income in the event of their untimely death. The average income of a single mother is $23,000 and if she has more than one child, it may be difficult for her to consider including a life insurance premium her budget. If the father is involved in the children’s lives, the single mother may think that life insurance is not necessary, as the father would probably assume responsibility of the children.

This may be true in some cases, but in many of the families, the father may not be capable or willing to assume responsibility for the children. In that case, it is imperative that the mothers investigate the possibility of purchasing life insurance to assist the person who would be responsible enough to care for the children. It would provide the needed financial assistance for the guardian to help support the children.

In the northeast, the cost to raise a child to age eighteen is approximately $455,000, which computes to $25,277 per year. This does not include the cost of a college education, which would be an additional $19,000 to $35,000 per year, depending on whether the child plans to attend a state school or an out-of-state school. The mother needs at least $600,000 per child of life insurance!

It is clear from considering the high costs to raise a child and send him to college that life insurance is necessary to cover these costs and to keep the children protected in the event of the untimely death of the mother. The amount of life insurance would seem pretty high, but it would meet the needs of the children. In reality, some single mothers may not be able to afford to purchase this amount of insurance. However, any amount that they could purchase would help the family.

Here is a situation where low cost term insurance would meet the need and would be a cost effective way of providing the coverage for the family. Term insurance would cover the family for only a certain amount of years. There would be no cash value, and the coverage would terminate when the mother would no longer need the coverage. Single mothers interested in more information about this should talk to their life insurance representative or feel free to contact me on the contact form of this blog.


Should Illegal Immigrants be Allowed to Attend College

October 4, 2011

There are so many illegal immigrants in the United States, more than we can imagine, yet so many of them are living their lives as if they were legal residents.

They shop at their own stores and do business with people from their own country whenever possible. They come around the Americans, only when they have to acquire something which they cannot acquire from their own people. This is not unusual because many of the immigrants from other countries did the same thing.

The state of Rhode Island attracts so many immigrants because of the many factories that are still operating in the state. There are over two thousand eight hundred factories that employ immigrants, and some may be illegal immigrants. When they are discovered, the illegal immigrants are sent back to their country.

Many of the immigrants also seek jobs in the southern part of Rhode Island, whose history attracts tourists who want to know more about the early settlers of this country. Because of that, there are summer jobs which are available. The immigrants take these jobs low paying and many sign as independent contractors, which eliminates the tax burden for the business owner.

They are required to show documentation that they are working and living legally in the United States, but the paperwork may be false or erroneous. Immigration officials are assigned to investigate them and when the immigrants discover that they are being investigated, they flee to another state. Disagreements and arguments with spouses is usually the cause of the investigations.

Now, the State of Rhode Island has granted permission for illegal immigrants to attend college at a reduced rate in an attempt to collect much needed revenue for the state. The parents of students who attended high school for three years in Rhode Island and received a degree are eligible for this opportunity. There is a stipulation, however, the immigrants must apply for legal status as soon as they are able or face losing the tuition.

Although the lawmakers argue that allowing illegal immigrants to attend college would contribute new to a stronger work force and improve the quality of life in Rhode Island, many legal residents who are struggling to pay tuitions oppose this new ruling.

It will be interesting to see how many of the illegal residents attending colleges actually complete their studies and how many of them secure jobs after they graduate.