Life Insurance for Newborn

IMO, the 529 is a no-brainer for a host of reasons. In short, college costs are likely to go up more than life insurance rates by a wide margin over the next two decades, so pump the excess money in there early and often because that's where it's needed most. Also, your child may eventually end up with great life insurance through work (like me), so your well-intentioned gift wouldn't mean much in that case

Let your child worry about life insurance when he/she is all growns up. Focus on college for now

life insurance on a baby should only be about 10k to pay for funeral

I don't know what the longest term insurance you can buy is, but you are probably thinking of whole or universal life, since their big selling point is future insurability, avoid that stuff like the plague, and go for the education fund.

thanks for the advice.

Check and see if you can get a $10k rider on your policy the for burial costs god forbid you should need it. It isn't very expensive. I have it on my term for my daughter. I hope it will the best wasted money I ever spent.

My life insurance agent suggested I get a 30K rider for each kid. 10K of that would be for the funeral cost and the other 20K would be for lost income because if you lose a child you wont be able to work for a while. I thought it was good advice.

life insurance on newborns was pretty common with folks who lived during the depression and before...infant mortality was high and most had little money to pay funeral expenses....

as tough as times now may seem, we do have quite a bit of money at our disposal in the unlikely event that a newborn passes...I wouldn't take out insurance on a newborn...

i have a policy mainly as a little side account to help pay for college, wedding or whatever the hell i choose to let it help pay for.

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You don't put insurance on your kid.
You should put it on yourself for your wife and kids.

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My insurance account is a life policy on my kid. But it's in my name and I can use the funds as I please with my own intentions being for my kid. I have other life policies on myself both whole and term.