Should I Buy Life Insurance For My Child at Buying

Should I Buy Life Insurance For My Child. Children's life insurance is a great way to ensure a lifetime of financial security for your child, and if your child has a family of their own, the life insurance you buy today can benefit future generations. Health insurance ensures future insurability and covers common childhood issues like wisdom tooth removal or broken bones.

Buy life insurance on adult child These accounts are more secure that life insurance and will ultimately allow you to save and invest significantly. The rationale is that locking in life insurance rates during childhood is inexpensive.

The short answer to the question of whether you should purchase life insurance for a child is ‘no’. If you want to purchase life insurance for your child as a form of life savings account, you may benefit more from a different investment such as an annuity. It is a surefire way to maintain insurability if a child develops illnesses later in life that would exclude their eligibility for life insurance. Life insurance is to compensate for the loss of a breadwinner, not a baby.