Insuring children lives are often overlooked. Parents and grandparents must consider insuring the lives of children in their care.Children Lives Need to be Insured
While the parents and grandparents must make sure that their lives are insured first and foremost, if funds are available to insure the children, the children lives need to be insured.
Insurance Premiums for Children are Low
The insurance premiums for life insurance for children tend to be very reasonable because of their long life expectancy. However, tragedies and accidents can and do occur everyday.
And, no one wants to have to take up a collection or draw down savings to bury a child. Therefore, what amounts to less than a dollar a day. for example, for a child entering kindergarten at 6 years old, the annual premium for a 10,000 policy would be $57.60.
This would be a whole life policy that build up cash value and one that the child can keep at a low premium once he grows up and becomes self-reliant.
One other matter to consider is that if the child become uninsurable, for whatever reason, and the existing policy is in force, it can not be cancelled by the company as long as the premium continues to be paid.
Call (773) 614-3201 for more information on insuring your children. If you have any thoughts on this matter, leave your comments below.
