Life Insurance Quotes

Childrens Life Insurance - Learn About Childrens Life Insurance

Childrens Life Insurance

Many people question why they need childrens life insurance if they already have adult life insurance. Since life insurance is usually purchased to replace the income of the owner why would a child need the same type of coverage? Before you decide not to purchase a policy for your children, listen to some great benefits of owning childrens life insurance

Benefits of Childrens Life Insurance

If you purchase a life insurance policy for your child shortly after birth there is the potential for building a large cash value. Although you would not want to use a life insurance policy as the only savings plan for education or other expenses, a child's policy can be used in conjunction with a 529 plan or an education IRA.

Purchasing a policy for a child who may have health problems is also a benefit for both you as the parent and the child. If the child develops health problems or permanent injuries he may not be able to find a policy when he gets older and begins earning an income. If you have purchased a whole life policy at least your son or daughter will have that level of protection no matter what else is going on in his life.

Although no parent wants to think about a child dying before her it does happen. If your child is diagnosed with a terminal illness you will at have the comfort of knowing you will be able to pay for funeral expenses and a burial that shows how much you loved your child. You can find a cheap childrens life insurance policy that can mean the difference between paying cash for a child's funeral or going into credit card debt to pay these expenses.

Types of Childrens Life Insurance

There are several different types of childrens life insurance from term life to a cash value whole life policy. Choosing a term life policy will give you a large amount of coverage for a small price. Some agents will advise you to purchase a million dollar policy since you won't really know the income potential of a newborn. Let's think positively and assume they are going to find a great job and make lots of money. Many term life policies can be converted to whole or variable life policies with an increase in premiums, but with no medical exam. This may be a great choice for your situation.

A cash value whole life childrens life insurance policy is also a great choice. Using life insurance is a safe way to save money and provide protection in the event of a premature death. If the family experiences financial trouble or needs money for an emergency the whole life policy can provide the benefit of cash value. You can borrow against the policy without losing the coverage or money.

Overall there are many positives to purchasing a childrens life insurance policy. Not only will you be providing guaranteed coverage if your child decides to keep the policy once he are out on his own, you will protect yourself and your own finances in the event your child passes away from an accident or illness. Life insurance policies can be used as safe investment tools and your child could possible use the cash value of her own policy to pay for a college education or technical school training. There are so many different types of policies to choose from you will need to talk to an insurance professional who can advice on the best policy for your budget and your own situation. Find a great deal on childrens life insurance today.

ING Transamerica Insurance and Investment Group American General Life Companies Prudential Genworth Financial Services SBLI Life Insurance Company

Get Quotes From Multiple Carriers

Zip Code:

Compare Rates Now

Protect your familyTODAY.

Save up to 70% on Life Insurance Rates!