Life insurance for children is not just a good idea but a necessity for many reasons. The number one reason is future insurability without health questions. When purchasing life insurance for your child it’s most important to consider the possibility of insuring them before a potential serious health condition rather than their death.” Many policies designed for children offer the client the ability to buy additional coverage regardless of health conditions. Some common health conditions that present themselves when children are young can make them uninsurable. To a name a few asthma, diabetes, heart disease, as well as attention-deficit and social diseases. The original policy just needs to be purchased before diagnosis. If they become insurable in their young life it not only affects them but their future children and spouse. Not the weight any parent wants to carry on their shoulders.
The younger a person gets life insurance the better the rate.
If it’s a whole life policy the rate will never go up. What parent isn’t looking for the best price.
None of us want to think that we need to prepare for the death of our children. As a parent we need to be prepared for anything that could arise. When our children go to college they need to have a policy large enough to cover their college debt.
Policies that have cash value offer additional benefits such as funding for college or an upcoming home purchase.
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