Are you Parenting Responsibly?

Being a parent is the greatest joy in the lives of those blessed with children. When we think of the ideal “good parent”, a barrage of things come to mind such as the ability to discipline fairly, nurturing, encouraging, and providing love and safety. Our children are such a vital part of our lives that we can’t imagine life without them, or vice versa. As a result, many parents stop to ask themselves “what if I died suddenly”. Of course good parents have a backup as far as who will continue raising their children (like an aunt for example). But good parenting doesn’t just encompass “the now”, but also the “what ifs”. Having a backup plan in place for someone to step in and raise your kids is great, but a responsible parent needs to ensure the child’s financial security. Appropriate websites, such as one like www.lifeinsurancerates.com, provide a parent with an insight into the various types of policies that can safeguard their child’s future.

Is Life Insurance Worth the Expense?

Entertaining the thought of dealing with life insurance sounds about as much fun as standing in line at the DMV. However, part of being a responsible parent is to ensure your child has ALL the care that can possibly be given. In a financial article by US News, the author sites a recent survey by the nonprofit LIFE Foundation in which one in four Americans considering canceling their life insurance policy in order to save money during the recession. The author then points out some reasons of consideration that argue why this is not a good decision. As for parents, this certainly does not attest to the role of a good caregiver. Sure, you can take your child to the dentist, buy them the latest “must have” videogame console, and get them that expensive iPad that they swear is going to help them improve their homework. If you are willing to go the distance to provide your child with proper dental care and give him/her the luxuries you didn’t have as a child, then why not do what really matters, and make sure your children will be cared for properly after you are gone? 

The Challenges Faced by Parentless Children 

In the tragic event of your untimely death, it is safe to say your kids will be cared for by a family member, or by your spouse if you are married. Regardless, there will be major unforeseen financial expenses left over for your spouse to deal with who is now a single parent, or your family member will be taking on the major expenses that come with having an addition to the household. Either way, the caregiver will most likely have to work additional hours in order to provide for your child. Unfortunately, this will negatively affect your child on multiple levels.

Having experienced the tragedy of losing a parent, your child should be in a situation where a loving guardian can nurture and comfort them. If you failed to obtain a life insurance policy, your children’s caregiver will be unavailable at no fault of their own. They will have to work more in order to provide your child with life’s necessities. By purchasing a life insurance policy, you are ensuring your child will be in the constant loving care of someone who can help them get through the troubling times ahead.
Another challenge your child will face lies in their educational future. As is the norm, most life insurance policies pay out five to ten times worth your total annual income—more than enough money to make sure your child has a college education, and the things he/she needs in order to get through school and learn, play and grow with peers.

Protect Them, Always

We all hope to live long, happy and healthy lives. But the truth of the matter is that nobody has an oracle in their backyard where they can gaze into the future. Terrible tragedies happen all too often, and though we have no guarantee that we won’t fall prey to tragedy, we do have the ability to make sure that such a tragedy won’t ruin the lives of our children. Do some research online, contact a life insurance professional, and find out which policy will best protect your children.

Photo source: http://www.toddler-activities-at-home.com/image-files/parenting.jpg