When you're having a baby so many things go through your mind. What kind of crib to get, what's the safest stroller to buy and was it wrong to have spent so much on all of the cute clothes you found?
One thing most expecting parents don't think of is life insurance for your child.
Everyone wants to be the best parent they can to their newborn and many people struggle with what they feel their child will need and what they can afford.
Child Life Insurance is not just a precaution but also an investment for the child to use later in life.
Parents will have peace of mind and children will have financial protection in a possible time of need.
Even though you might hear that there is no need to insure a child, since they do not have an income that needs to be replaced upon their death, the reason to insure them is for another purpose entirely.
There are several reasons for obtaining child life insurance, the biggest being that you can make sure they are guaranteed health insurance coverage when they are older even if they are otherwise uninsurable.
If they became disabled later in life or choose a profession that insurers consider risky they could face extremely high rates or be unable to find a company that would insure them.
Another reason would be that the premiums will be much lower than what they would pay later in life.
The earlier you insure your child the lower the premium will be. A child life insurance policy can also be used as a savings for future needs.
This is referred to as whole life insurance and when your child reaches a certain age they can use the money for college or to buy a home.
There are many companies that handle life insurance policies for children.
Some companies handle child life insurance policies only and some offer riders onto adult policies.
You can choose term or whole life insurance although there is some argument as to which is better.
The best idea is to contact a professional, independent insurance agent who can help you wade through all the different programs available.
Once you have identified the policy that best fits your needs, be sure to identify the cost and make sure you are going to be able to pay for it long-term.
Buying insurance for your child is a personal decision and one that can only be made after careful consideration and good advice.
Did you find this article useful? Please Buy Us a Coffee or a Pizza to help cover this site's costs ...
Please donate to this Bitcoin address
Scan the QR code or copy the address below to your wallet to send some Bitcoin
By Thomas H Rawls Insurance can be a great investment tool and can be one of the best financial tools used for life planning. You can really benefit when you have the right type of insurance in your planning for everyday situations. [READ FULL ARTICLE]
Ignoring A Life Insurance Cover Could Be Fatal - Check Why
By Shay Ramani Ignoring the need to buy life insurance cover can put your family into big financial problems. Find the answers to common myths about life insurance policy. Also, check some of the important reasons for which people should buy a life insurance cover.
[READ FULL ARTICLE]
Life Insurance: Back to Basics
By Cleo Patsy This article is a brief write up about the life insurance industry and how it forms part of your crucial financial planning, how it is applied in the reality of this world, and just how the common masses always dismiss the important factor of having an insurance policy. What do we know about insurance? Is it just a common stigma in a normal person's life? Can it really save our family, and doesn't it contradict the word death coverage, when we would already be dead, how good, or of use to our loved ones? [READ FULL ARTICLE]
Twelve Secrets and Tricks to Buying Life Insurance
By L Lance Wallach Secret #1: Don't spend too much time on a life insurance quote. Do not be fooled by the low price quotes you get online - they don't apply to you unless you are extremely healthy. Statistically only 10% of people who apply actually get the lowest priced policy. [READ FULL ARTICLE]
Avoid These Six Common Life Insurance Mistakes
By Dwaipayan Bose Life insurance is one of the most important components of any individual's financial plan. However there is lot of misunderstanding about life insurance, mainly due to the way life insurance products have been sold over the years in India. We have discussed some common mistakes insurance buyers should avoid when buying insurance policies. [READ FULL ARTICLE]
Life Insurance: Protect What You've Got
By Paul Lalley Life insurance protects your loved ones if you're not around. Life insurance covers expenses, and allows your family to keep their home and their lives. However, buying the right life insurance for your circumstances takes some research. Here's a good place to start that research. [READ FULL ARTICLE]
What Type of Life Insurance Policy Should You Get
By Gary R Landisch This article addresses the questions I have been asked repeatedly over the years as a licensed agent. This article is tailored for people who are looking for life insurance and don't know where to start and are looking to avoid the biggest mistakes most people make. If you read this article you will have all the answers you need to save yourself thousands of dollars and find the right life insurance for you and your family. [READ FULL ARTICLE]
Homewood, Maryland, Ossining, East Point, Redwood City, Indio, Marysville, Cambridge, South Carolina, Beaverton, Montana, Ohio, Washington, Delaware, Talladega, Monrovia, Zion, Spartanburg, Nederland, Marysville, Bedford, Windsor, Marion, Huron, Elkton, Cartersville, Kewanee, Peoria, New Mexico, Palestine, Oregon, Ashwaubenon, Bloomsburg, Inglewood, North Myrtle Beach, Cudahy, Clovis, Weslaco, Creve Coeur, Greenwood Village, Bergenfield, Ponca City, Selma, Eagle Pass, Jamestown, Davie, Las Vegas, West Virginia, Elmira, Schenectady, Waterville, Tamarac, Lemont, Kaukauna, Bixby, Summit, Mountlake Terrace, Monterey Park, Chillicothe, Huntsville, Bethany, Shoreview, Rochester, Santa Paula, Beverly Hills, Ottawa, Easton, Lake Zurich, New Castle, Tennessee, Aiken, Barberton, Evanston, Sunrise, Fairview Heights, Collinsville, Girard