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Avraham "AY"  Rappaport, CLTC

President, Financial Professional


Yaniv "Jay" Natanov

President, Financial Planner


Eli Rappaport

Vice President, Financial Planner


Shlomo Rosenstein

Financial Professional


Ozzie Marizan

Financial Planner


Joseph Greer

Employee Benefits Administrator


Sarah Tutko

Senior Client Support Manager


Premier Financial

6395 Dobbin Road, Suite 102

Columbia, MD 21045


Phone:  240-309-6001




March/April 2023

Life Insurance and the Single Life

Life Insurance and the Single Life

If you’re a single parent or just plain single, you might not have given a lot of thought to life insurance.* But there are some very good reasons why you should. Life insurance benefits can provide for loved ones, pay off debt, or finance a child’s education if something were to happen to you.

The Single Parent
As a single parent, you may be the sole provider for your child. But if you weren’t around, where would the money come from to provide for your child until adulthood? Life insurance offers a safety net that can pay for a child’s everyday expenses, college tuition and future care if a parent dies unexpectedly. In addition, life insurance benefits can cover your end-of-life expenses.

How Much Do You Need?
The answer varies with every individual’s situation. Generally, your policy’s death benefit should be 10-15 times your annual income — more if there are multiple beneficiaries. A term life policy that covers you for a set number of years is typically the most affordable option. Your financial professional can help you determine the type and size of policy that is best for your needs.

When the Beneficiary Is a Minor
A minor cannot receive life insurance proceeds, so you may want to set up a trust as the beneficiary of your policy. When you establish the trust, you’ll specify how the funds will be distributed and name a trustee to oversee the distribution. Because money in a trust can sometimes lower a child’s eligibility for financial aid, work with a financial professional to come up with a plan for your child’s future.

Single, No Children
A single person with no children may still have a need for life insurance. Policy proceeds can cover funeral costs, pay off debt, provide support to a parent or disabled sibling, or fund a legacy.

*Applications for life insurance are subject to underwriting. No insurance coverage exists unless a policy is issued and the required premium to put it in force is paid. Accessing cash values may result in surrender fees and charges and may require additional premium payments to maintain coverage and will reduce the death benefit and policy values. Guarantees are based on the claims paying ability of the issuer.



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Premier Financial is not affiliated with Prudential Financial. Premier Financial sells insurance products of Prudential Financial's affiliated insurance companies in addition to products of non-affiliated insurance companies. Premier Financial is authorized to sell and service certain insurance products of Prudential Financial companies as well as use this material. Premier Financial and its representatives do not give tax or legal advice. Please consult with your own advisors regarding your particular situation. Offering financial planning and investment advisory services and programs through Pruco Securities, LLC (Pruco), under the marketing name Prudential Financial Planning Services (PFPS), pursuant to a separate client agreement. Offering insurance and securities products and services as a registered representative of Pruco, and an agent of issuing insurance companies. 1-800-778-2255. Sarah Tutko is employed by Eli Rappaport and not The Prudential Insurance Company of America or its subsidiaries.
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