Single parents need life insurance to protect their family

A family consisting of two parents with children under one roof is the traditional ideal of a stable environment. A large number of families, however, don't fit that mold.

For a single parent life insurance is particularly important. A life insurance policy can provide financial assistance in the event a family's sole caretaker passes away.

However, the Trends in Life Insurance Ownership study by LIMRA reveals that more families are making a risky choice and forgoing life insurance. According to the study, 30 percent of American families surveyed do not have any life insurance at all.

LIMRA CEO and president Robert Kerzner says the number of families without life insurance paints a potentially tragic picture.

"Clearly, more American families are living on the edge - surviving paycheck to paycheck - and, as our new study suggests, too many without the safety net that life insurance provides," said Kerzner.

Being a single parent isn't easy for even the best. Having life insurance is just one way a parent can provide a secure environment for their family.