Parent’s death without life insurance can mean life of hardship

The death of a parent can have long-lasting effects. Emotionally and financially, children can struggle for years.

A scholarship program sponsored by the Life and Health Insurance Foundation for Education highlights the struggles young adults face from their parents dying without a life insurance policy.

Almost 60 percent of students applying for the scholarship say that their family had to move to a less expensive home after a parent died, according to LIFE.

The video applications put a face to the hardship children continue to face, some of which may have been eased with a life insurance policy in place.

"No parent would want to see their children struggle as much as the students who apply to our scholarship program have struggled," says LIFE president and CEO Marvin Feldman.

Watching young adults tell their tale of difficulties may serve as a wake-up call for parents who have been putting off getting a life insurance policy. People with children of any age should include life insurance as part of their long-term financial plan.