With Mothers’ Day around the corner, we often see people talking about motherhood, but seldom do we hear about single mothers and their hardships.
A single mother steps into the shoes of a mother to care for her family and simultaneously into those of a father to be the breadwinner, challenging gender norms set by society. Financial duties, thus, become one of the most arduous elements for many single parents. Vinit Kapahi, Head of Marketing, Aviva India, shares his views on the importance of life insurance for single mothers. He says, “For a single mother with responsibilities, the priority should be to buy a life insurance policy. It shall provide the required foundation for establishing a solid financial savings strategy and aid in risk mitigation, thus providing a safety net for your family. Thus, you are at peace knowing that your family will be financially independent even when you are not around.”
Adding to that, Vinit further suggests that with a life insurance policy, they could also enjoy their retirement years and pursue their passions without having to worry about their family’s financial situation.
“Health ailments are the last thing anyone desires, but one must always account for the unexpected. In addition to the base plan’s life insurance coverage, you can opt for add-ons and riders (as and when available) wherein critical health illnesses like cancer, stroke, kidney failure, etc. are frequently covered.”, commented Vinit Kapahi.
Life insurance is of the utmost importance for single mothers for their family’s financial well-being. There is no greater sense of security than knowing that your loved ones are protected and that you have made the necessary financial provisions to ensure that their future is bright.
This Mother’s Day, let us all honor the hardworking moms throughout the world who raise their children with fortitude and courage on their own.
Must Read – Bank of Baroda