Why Do Children Need Life Insurance?
0 POINTSContact Meview profileDavid RacichPROFountain Hills, ArizonaPurchasing life insurance on children can be a long term savings account or preemptively purchasing life insurance for insurability later in life. Some parents insure their children for final expense in case something happen to them. But be advised, most life insurance companies require parents to have life insurance before they can purchase life insurance on their children.Answered on June 30, 2013+01+1 this answer
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63333 POINTSview profilePeggy MaceMost of the U.S.The best reason I see for children having life insurance is so they are insurable for the rest of their lives. Even being covered by their parents' child rider enables them to obtain (in most situations) five times the amount of the life insurance on the rider, at the Standard rating class, when the become adults, no matter their health at that time. If you have type 1 diabetes or congenital conditions that run in your family, getting life insurance on your children before/in case any of these show up can be a real blessing.Answered on June 30, 2013flag this answer
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