Why do parents buy life insurance for their children?Child life insurance plans offer several benefits that make it important for parents to consider life insurance for their kids.
Here are some of the
main benefits of child life insurance plans:
1. Provides money tom pay for your child's funeral and burial costs which may average around $7,700 including the cost of a casket, burial plot, headstone and memorial service.
2. Provides low cost life insurance protection for your child's entire lifetime.
3. Rates are guaranteed to remain the same for the life of your child's policy.
4. Coverage cannot be canceled by the insurer due to a change in your child's health.
5. The amount of life insurance protection will never be decreased by the insurer.
6. Your child may increase the amount of life insurance provided by his or her policy when reaching adulthood.
7. Your child will have guaranteed life insurance protection as an adult, regardless of your child's health or occupation.
Learn more about
life insurance for your children.
