Why Your Child Should Have a Life Insurance Policy

Aug 12, 2021 | 0 comments

Having a child means you go over and beyond to protect them. Whether they lose a tooth or they are having difficulty in college, as a parent, you will always be there for them. So, when it comes to preparing for their future, why not purchase their life insurance at a young age?

How a Life Insurance Policy Benefits Children 

The idea of preparing for a child’s death is often too much for many parents to wrap their minds around. However, purchasing an insurance policy for your child doesn’t trigger an invisible clock counting down to their death. When you purchase a life insurance policy for your child, you remove the burden from them. They can keep their policy beyond their years as an adolescent, teenager and well into their adult life. With the right policy, your child and family can benefit from:

  • The death benefit 
  • The cash value 
  • Guaranteed purchase option 
  • The accelerated death benefit 
  • Survivor services 

With most policies for children, they can easily convert them later in life to provide their families with even more coverage. Essentially, the policy you purchase for your child is a launching pad to help them protect their family in the future.

Children’s Life Insurance Also Prepare Parents for the Worst 

If you are a parent that still finds it unsettling to purchase a life insurance policy for your child, the way you feel is understandable. However, the possibility of your child passing is real, and parents should consider, at the very least, purchasing enough life insurance to cover the cost of final expenses. Purchasing life insurance for your child helps prevent you from worrying about paying for the expenses out of your pocket. Your child’s life insurance policy can help you:

  • Cover the cost of the funeral services 
  • Get counseling 
  • Replace your income while you are grieving 

Although the thought of losing your child may be incomprehensible, purchasing life insurance can help you cope during the process, if it should happen.

As a parent, you love your child and you are willing to help them at all costs. One real way you can help them is by purchasing life insurance to cover their final expenses, at the very least. However, life insurance is a great tool for your child to grow money, have access to money for future needs and help them protect their family in the future.

Learn more about your family’s coverage options. Call I & E Insurance Agency at (732) 295-5584 for more information on Point Pleasant life insurance.