1. 710 POINTS
    Larry Tew
    Larry Tew Financial, Raleigh, NC
    When it comes to insuring your children, there is no magic number. You could insure them for as little as what you believe a funeral would cost, or you could insure them for a substantially higher amount.

    Most parents don't want to think about profiting financially from the unfortunate death of a child, but buying life insurance on children while they are young could give the child the guarantee of having life insurance as an adult.
    Answered on April 11, 2013
  2. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    As Larry stated, that is up to you, whether you are getting the policy to just cover expenses if the unthinkable would occur, or if you want to pass on a substantial policy onto your child someday.

    One thing to take into consideration is whether any health conditions run in your family, such as diabetes, heart disease, etc. If so, it is not a bad idea to get your child a larger policy, locking in their best health rating.

    It also depends on your financial situation. If you are pinching pennies, you could get one child rider on your own life insurance policy that will cover all your children. When they become adults they have the option to convert that into a permanent policy on themselves, rated Standard, no questions asked.
    Answered on December 11, 2014
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