Comments on: The Cons Of Child Life Insurance

By: Joseph@TermLifeInsurance.com

Joseph@TermLifeInsurance.com — Tue, 31 May 2011 22:06:19 +0000

Great review covering the pros and cons of life insurance for children. Enabling parents to purchase guaranteed insurability riders for life insurance are what some parents do to prevent the child from not being able to buy life insurance if they have an illness or other disease later in life that would prohibit them from qualifying for insurance. Obviously this makes sense but no one knows the future and parents should always seek the advice from their trusted financial advisor or licensed insurance agent about their options.

By: Kyle

Kyle — Fri, 30 Apr 2010 15:27:59 +0000

I believe high-premium insurance as an adult is a better solution.

By: keith

keith — Fri, 30 Apr 2010 15:16:49 +0000

I would like to say at least have insurance to cover funeral costs and maybe leftover medical expenses. I agree with Denise also. The chance of an illness is always there. Then what? No insurance or high premium insurance is the only choices. Furthermore although family history increases the chances of heart disease, diabetes, etc., it doesnt discriminate. Anyone can get these illnesses.

By: Denise@AccuQuote

Denise@AccuQuote — Fri, 09 Apr 2010 05:00:20 +0000

I would like to counter the views you have expressed, in favor of child life insurance policies. I don’t deny the policy can be misused in the ways you have outlined above. However, I do think there are circumstances when it does make sense.
First, if you insure your child, he or she will be allowed to convert it into an adult policy at very affordable premiums. Second, if you have a family history of a certain disease like coronary disease, diabetes, etc., your child may possibly inherit it in future. A child life policy makes sense here because should your child be diagnosed with the illness anytime in childhood, or adulthood, he or she would already be insured, and will effectively avoid the hassles that come with buying a new life insurance policy when one has health problems.

With the sophisticated crime solving and law enforcement measures of today, I personally feel that there is limited scope for misusing a child’s policy.
For more information on term life insurance visit http://www.accuquote.com/

Denise

By: Kyle

Kyle — Fri, 19 Mar 2010 01:03:26 +0000

I could certainly keep working. I might take a week or two off, sure, but millions of people around the world do it every day. I suppose if you think you would take a long time off work, you should buy insurance.

By: Evan

Evan — Fri, 19 Mar 2010 01:00:01 +0000

I am going to have to disagree with you, and I don’t think you posted ANY of the pros.

I am not sure the amount needed (and I don’t have children yet), but if my kid dies, I couldn’t imagine working. Could you? How long would you take off? How long would you need to replace your income for?

You may want to check out:
http://www.myjourneytomillions.com/articles/buying-life-insurance-on-a-childs-life/

http://www.myjourneytomillions.com/articles/buying-insurance-child-part-replying-email/