Life insurance for children is something that some parents may want to get, but others may not think is necessary. Kids life insurance generally depends on your personal situation.
There may be various questions involved when it comes to deciding whether to get life insurance kids policies. And kids life insurance may be considered a controversial product. Same say it’s a good savings plan for your children’s future, while others say that kids life insurance might be an outdated idea that has been replaced by investments like 529 college savings plans. Others say that since life insurance may be meant to help replace breadwinners’ incomes, it’s not correct to sell life insurance for children, since they typically have no income to be replaced.
One of the positives about life insurance for children policies could be that if your child turns out to have some health condition that makes them uninsurable later in life, they may still have life insurance.
The typical life insurance kids policy may not be very large; it’s frequently enough for a funeral in case the unthinkable happens.
But if you have a child who has a family history of some disease or illness that they could very well develop in the future, it may be wise to get a larger insurance policy for them. However, some say that this may not be necessary, so the jury is still out on life insurance kids policies.
If you do think about getting a life insurance kids policy, you may be wary of consulting an agent that may pressure you into the decision. Kids life insurance is a personal choice, and not one that you should be unrightfully persuaded into making.
Some people may buy kids life insurance just for some peace of mind, not the investment potential or anything else. Others may point out that parents should generally make sure they have enough life insurance for themselves before they even think about life insurance for children.
So is it worth it to get a life insurance kids policy? It depends on your personal situation as to whether kids life insurance might be worth it. But whatever you do, you may not want to let anybody talk you into life insurance for children unless it is something you want.
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