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Why single dads need life insurance

Term life insurance isn’t just for couples—it’s also for single dads who are getting it done on their own

single dad playing with children

If you’re a single dad, you know just how much work it takes to keep your household running smoothly. From hairbrushes to sack lunches, carpools to playdates, your kids need you to help them navigate the world. More than that—your kids probably think of you as their entire world, especially if they’re still young enough to hold your hand as they cross the street.

But what if you weren’t there? We know you don’t really want to think about the worst-case scenario, so we won’t spell it out for you. Instead, we’ll give you four good reasons why you should think about applying for an affordable term life insurance policy. Think of it as a Father’s Day gift you can give to your children.

In this article:

Life insurance can help your kids stay in the family home

If you’re a homeowner, you already know that the monthly mortgage bill needs to be paid no matter what—along with property taxes, roof repairs and whatever it costs to fix that weird noise coming from the furnace. Life insurance coverage can help ensure those bills continue to get paid even if you’re no longer there to pay them.

Protecting your mortgage and keeping your kids in the family home is one of the best reasons to consider a term life insurance policy. Depending on the length of your mortgage and the amount still on the loan, a 10-year term life insurance policy could be a good idea to provide just enough coverage to give you and your family the financial security you need.

And if you’re near the start of a mortgage, you may want to buy life insurance that covers you for a longer period of time, even up to 30 years.

Life insurance can help ensure your kids are cared for

Single dads know all about the cost of childcare. Whether you’re dealing with daycare, looking for reliable babysitters or comparing summer camps, you know that childcare is a major expense—and it’s the kind of expense that doesn’t really go away until your kids are fully grown.

If you’re the kind of single dad who’s on top of things, you’ve already written a basic will—and you’ve already selected guardians for your children. (Re a will: If not, the Haven Life Plus rider offers eligible Haven Term customers no-cost online will services from Trust & Will.) However, you may not have asked yourself how those guardians are going to cover all of those babysitters and camps.

That’s where a good life insurance policy can help. If your kids are still in daycare, a 15-year term life insurance policy might be a smart choice, as it would offer your kids financial protection until their high school graduation. If they end up going to a private school, their guardians might be able to use some of that financial help to cover the cost of tuition.

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Life insurance can help your kids go to college

On the subject of tuition—you know that college is more expensive than ever, right? Some dads are determined to help their kids as much as possible, setting up 529 plans and starting college funds. Other dads use the cost of college as a way to teach their kids self-reliance—but even kids who receive scholarships or take out student loans still depend on their parents to help them cover the expenses associated with new laptops, extra-long sheets and plane flights home for the holidays.

If something were to happen and you weren’t able to see your kids off to college, a term life insurance policy could help your kids pay for not only the tuition, but also the fees, the laptops and the late-night pizzas.

If your kids are still young, think about a 20-year term life insurance policy, or even a 30-year term life insurance policy. That way, they’ll be covered even if they take five years to complete their degree—or if they decide to go on to grad school.

Life insurance can help protect your own parents

Your parents probably did a lot for you when you were a kid. They may still be helping you out today, especially if they live close enough to see the grandkids on a regular basis. Believe it or not, a term life insurance policy can be one of the best ways to thank them for all of that hard work.

Once your life insurance policy is in place, your parents will have the peace of mind that comes with knowing their grandchildren are taken care of. If your parents are your children’s assigned guardians, they’ll have the financial assistance they need to help give your children everything you may have wanted them to experience.

Your parents will also have the peace of mind that comes with knowing they won’t have to cover any of the high costs associated with funerals, burials and other final expenses. Term life insurance policies can be used to cover those kinds of costs, which can be much higher than many people anticipate—which is why you can use your life insurance policy to protect your parents from that potential financial burden.

We never said being a single dad was easy—but we know you’re ready to do whatever it takes to make sure your family is taken care of. Single parents need life insurance, and we’ve just given you four good reasons to add it to your to-do list. Get a free online life insurance quote today.

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About Nicole Dieker

Nicole Dieker has been a full-time freelance writer since 2012, with a focus on personal finance and habit formation. In addition to Haven Life, her work regularly appears at Lifehacker, Bankrate,, and Vox. Dieker spent five years as a writer and editor for The Billfold, a personal finance blog where people had honest conversations about money, and is the author of Frugal and the Beast: And Other Financial Fairy Tales.

Read more by Nicole Dieker

Our editorial policy

Haven Life is a customer-centric life insurance agency that’s backed and wholly owned by Massachusetts Mutual Life Insurance Company (MassMutual). We believe navigating decisions about life insurance, your personal finances and overall wellness can be refreshingly simple.

Our editorial policy

Haven Life is a customer centric life insurance agency that’s backed and wholly owned by Massachusetts Mutual Life Insurance Company (MassMutual). We believe navigating decisions about life insurance, your personal finances and overall wellness can be refreshingly simple.

Our content is created for educational purposes only. Haven Life does not endorse the companies, products, services or strategies discussed here, but we hope they can make your life a little less hard if they are a fit for your situation.

Haven Life is not authorized to give tax, legal or investment advice. This material is not intended to provide, and should not be relied on for tax, legal, or investment advice. Individuals are encouraged to seed advice from their own tax or legal counsel.

Our disclosures

Haven Term is a Term Life Insurance Policy (DTC and ICC17DTC in certain states, including NC) issued by Massachusetts Mutual Life Insurance Company (MassMutual), Springfield, MA 01111-0001 and offered exclusively through Haven Life Insurance Agency, LLC. In NY, Haven Term is DTC-NY 1017. In CA, Haven Term is DTC-CA 042017. Haven Term Simplified is a Simplified Issue Term Life Insurance Policy (ICC19PCM-SI 0819 in certain states, including NC) issued by the C.M. Life Insurance Company, Enfield, CT 06082. Policy and rider form numbers and features may vary by state and may not be available in all states. Our Agency license number in California is OK71922 and in Arkansas 100139527.

MassMutual is rated by A.M. Best Company as A++ (Superior; Top category of 15). The rating is as of Aril 1, 2020 and is subject to change. MassMutual has received different ratings from other rating agencies.

Haven Life Plus (Plus) is the marketing name for the Plus rider, which is included as part of the Haven Term policy and offers access to additional services and benefits at no cost or at a discount. The rider is not available in every state and is subject to change at any time. Neither Haven Life nor MassMutual are responsible for the provision of the benefits and services made accessible under the Plus Rider, which are provided by third party vendors (partners). For more information about Haven Life Plus, please visit:

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