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re: Can someone give me Life Insurance Advice?
Posted on 2/19/13 at 7:24 pm to gatorsimz
Posted on 2/19/13 at 7:24 pm to gatorsimz
The only reason to get insurance on a child is for funeral expenses if u cannot afford that out of pocket. The idea is to keep the family income intact. ..A child's death, while tragic, does not adversely affect ur financial status. ..
2
Posted on 2/19/13 at 7:30 pm to slaphappy
quote:
The only reason to get insurance on a child is for funeral expenses if u cannot afford that out of pocket.
That's one reason, but it also establishes the availability of life insurance for the future. If a child develops a disease (diabetes, cancer, etc). It can seriously hinder any chance of them obtaining coverage once they reach adulthood. By buying when they're young (like somebody said $2 per month) you guarantee that they will be able to add coverage in the future (without proving eligibility). I've got a $25,000 policy on both my kids- $3 each per month.
Posted on 2/19/13 at 8:11 pm to slaphappy
quote:
The only reason to get insurance on a child is for funeral expenses if u cannot afford that out of pocket..
Could not be more inaccurate.
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