The status of single parent isn’t easy, no matter if you have one child or several. As your children’s sole provider, you not only have to financially look out for them in the present, but also the future. And one difficult question you need to ask yourself is, “How can I protect my children if I’m no longer around?”

One option you can invest in is life insurance, which can continue providing your children with financial support, and potentially be used for future investments like college. Experts recommend investing in a policy that is six to 10 times your salary, according to MSN Money.

Investing in life insurance also can protect your children from any debts you may have outstanding, and it can cover your funeral expenses. It’s vital that you use an insurance broker who is local to you though and provides a personalised service. For example, at aorinsurances.ie, they will run you through a quote over the phone, and personally tailor a quote to you.

Nearly four in 10 single parents have no life insurance whatsoever, and many with coverage say they need more than they have, according to the Life and Health Insurance Foundation for Education (LIFE).

If you’re interested in getting some life insurance quotes, take a moment to understand the different types of insurance.

Term life insurance: This coverage lasts for a “term” you choose, usually 10, 15, 20, or 30 years. During that time, your life insurance premiums are typically guaranteed not to increase. If you pass away during that time period, your beneficiaries likely will receive a cash death benefit. If you live longer than the term period, you have the option to continue your life insurance coverage for an annual, renewable premium, which is generally much higher.

Permanent life insurance: Permanent life insurance is different from term life insurance in two ways. The policy generally is meant to last the rest of your life and part of the money you pay into your permanent life insurance policy is set aside in an account where it can grow into a cash value that you can tap into later on. There are several types of permanent life insurance, each with different advantages.

Another recommendation is to establish your life insurance as a trust for your children. That way you can name them as beneficiaries, and the trust will disperse the benefits. If you name your minor children as beneficiaries on an insurance policy you own (not a trust), they might not be able to receive the benefits until they turn 18.

Financially protecting your children as a single parent can be done. Talk with financial advisers, ask questions of insurance companies and make plans to give them security.