Life insurance is more important to single mothers than women in general, but they still aren't buying enough coverage, according to a LIMRA study.
Nearly two-thirds of working single mothers own life insurance, the study found, higher than the ownership level for all women (57 percent).
"We were surprised by the level of life insurance ownership among single mothers," says Nilufer Ahmed, senior research director, LIMRA Markets Research. "However, of those who are insured, only a third felt that their families would be able to cover expenses well into the future should they die. With about 10 million U.S. single mothers with children under the age of 18 living with them, there is a significant opportunity for companies to help these families obtain adequate levels of life insurance."
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