According to the 2017 Insurance Barometer Study by Life Happens, only 60 percent of respondents agreed that single parents of young children need life insurance. On the other hand, 82 percent of respondents said married couples with young children need life insurance protection.1
Single parents often may be in greater need of life insurance protection than couples are. That’s because a single parent could be the primary or even sole provider for the child. If you pass away, there may be no one to support your child from a financial perspective. Even if the other parent or family members will take your child in, they may not have the financial means to provide adequate care.
Are you a small-business owner without a succession plan? You’re not alone. According to a small-business survey from Nationwide, half of respondents said they don’t have a succession plan. Among those without a plan, 47 percent said they don’t think such a plan is necessary. An additional 22 percent said they didn’t have time or know how to proceed, while 11 percent said they didn’t have time.1
A succession plan may not be at the top of your priority list, especially if you’re not approaching retirement. However, a sound, comprehensive succession plan is a critical tool for many business owners. Your succession plan can help you make strategic long-term decisions so you can capture maximum value when it finally is time to exit your business.
First Fidelity Group
With more than 39 years of experience and knowledge, we've seen it all. We understand each client is unique and faces different challenges.