Life insurance for kids: Long term benefits come from early investment
November 25, 2011
3 thoughts on “Life insurance for kids: Long term benefits come from early investment”
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When looking for a life insurance policy for a child, whole life insurance offers advantages that other forms of life insurance do not. The primary benefit to a whole life insurance policy for a young child is that the coverage period never ends with a whole life insurance policy. With other forms of insurance, such as term life, the coverage period is defined with both a start date and an end date. This is not usually the best situation for a child, who may find themselves living much longer than the terms of their life insurance policy. With a child, whole life policies will be there to provide the desired benefit, whether they live to be 40, 70, or 100 years old. Although the premiums for whole life insurance for children are higher than with other terms, this is usually a small price to pay for the assurance that the policy will be there to help the stated beneficiaries when they need it, rather than having a policy expire years or even decades before the insured person passes away.
I just want to say I’m very new to blogs and certainly liked this blog. Almost certainly I’m want to bookmark your blog . You absolutely have beneficial article content. Cheers for revealing your blog.
When looking for a life insurance policy for a child, whole life insurance offers advantages that other forms of life insurance do not. The primary benefit to a whole life insurance policy for a young child is that the coverage period never ends with a whole life insurance policy. With other forms of insurance, such as term life, the coverage period is defined with both a start date and an end date. This is not usually the best situation for a child, who may find themselves living much longer than the terms of their life insurance policy. With a child, whole life policies will be there to provide the desired benefit, whether they live to be 40, 70, or 100 years old. Although the premiums for whole life insurance for children are higher than with other terms, this is usually a small price to pay for the assurance that the policy will be there to help the stated beneficiaries when they need it, rather than having a policy expire years or even decades before the insured person passes away.