Should You Buy Life Insurance For Children?
The primary purpose of life insurance is to replace lost income if someone passes away, so it is strongly recommended that you purchase life insurance for this purpose first on the life of breadwinner. Once the primary breadwinner(s) is covered, life insurance on your child or children is appropriate and beneficial for several reasons. First, it will secure their insurability or the ability to acquire children life insurance. Life insurance for children is typically very inexpensive which means that even if your child develops a medical condition after they have been insured with children life insurance, it will not affect their insurability. Additionally, with whole life insurance, you can save for their college savings planthat allows for tax-deferred growth, flexibility and decent return with minimal risk. Please call one of our life insurance specialists at (866) 972-3262 to determine the right kind of children life insurance or please complete life insurance quoterequest form now.