Buying life insurance for a child is a difficult issue and can be very emotional for parents. David’s Insurance Services in Los Angeles is available to help you sort through the task of deciding to purchase this type of insurance for your children.
Some factors to consider in a child’s life insurance policy are:
Future’s - these policies will lock in future insurability and will stay in force regardless of changes medical conditions. Things to consider will be family medical history and the possible development of an adverse medical condition which would make coverage more expensive or the child uninsurable.
Funeral - these policies are designed to pay funeral and end-of-life expenses. A child life insurance policy can protect your family’s financial flexibility, so you are able to salvage somewhat of a healthy life moving forward. Childhood diseases and violence often take children long before their time. The expenses of ambulances, doctors, hospitals, medications, and the funeral will be a painful reminder and make the healing process much harder. The effect of losing a child can also result in difficulty returning to work, therapy for you and surviving family, or marriage counseling.
Cost - a policy purchased for a child less than a year old is very inexpensive. Policies which build cash value can be a benefit in the life of the child when saving for college, buying a car or a new home.
Call David’s Insurance Services today so we can help you review all your options.