Why Children Need Life Insurance?

Let’s face it. Nobody wants to think of any mishap or any unfortunate incident happening to their children. The child is a source of perennial happiness and joy and nobody would ever allow any sort of harm to come in their child’s way. However, closing your eyes to a possible mishap is not going to help avoid it in any way. In this unforgiving and dangerous world, there are such things to consider for your child.

Child insurance is usually available in two forms: juvenile insurance and child insurance. The difference is that juvenile insurance deals with children under the age of 18 i.e. juveniles. In some cases, a medical exam may not be required and a simple and easy sign up online could have you investing in your child’s future. Child insurance of the second type deals with children under the age of 25. Different rules may apply from different companies for each type and may differ coverage from package to package.

Child Life Insurance (Image Reference)

Why do people get children insurance? It is quite simple. They want to secure their child’s future. Through child insurance, you can build the cash value, guarantee coverage to your child as an adult, pay for future expenses of your child, and sadly get ‘compensated’ for your loss. I agree there is not enough money in the world or anything else that could fill the void. Still many people realize that to give the best to their child even at that time costs around $2000 at least. A better funeral would require about $10,000. The insurance plan would cover a lot of this amount and possibly have left over.

In such a tragic event, parents are already devastated and worrying about money isn’t going to help. The insurance money could also help setting up grief counseling. The purpose is not to assist the client with money i.e. financially but to help them recover emotionally.

Hopefully your child would not suffer any sort of fatal injury or accident. Even then child life insurance will show a hint of your concern about their safety and future. It is quite probable that they will, as an adult, get life insurance for themselves. This children life insurance policy that you have setup for them can provide them a jump-start with the same trusted company that you invested in. So their life insurance value will only increase with their insurance plan, thanks to your decision.

Even though most people, at first, feel guilty about children insurance, it is as perfectly normal as insurance of any other person is. You do not feel that you have placed a desire to kill yourself when you get life insurance for yourself! Similarly it won’t jinx or curse your children to have insurance and could in fact be a very good step to secure their and your future. It may look bad at first but you have to realize that the situation, no matter how morbid, can occur and you must take steps to secure the best in every situation.