While these cases are rare, you may benefit from purchasing life insurance for your child if:
Including a child rider in your term life insurance policy is a more straightforward and cost-effective option. If any of your children die away, a kid rider pays a death benefit and can later be changed to a permanent policy if your child requires lifetime coverage.
While it may feel odd to consider life insurance for your child, the benefits can extend far beyond traditional expectations, especially if you lock them into a policy early. Here are a few reasons why:
Affordability
Purchasing life insurance for your children guarantees protection at the best price, as life insurance is less expensive when you are younger and healthier.
Insurability
Buying life insurance when your children are young and healthy ensures they have coverage regardless of future health conditions.
Financial Security: Life insurance provides a foundation for financial security, supporting major life milestones such as college, marriage, homeownership, starting a business, and retirement. You can borrow against the cash value of the policy to assist in covering these expenses.
For Example:
Ready to secure your child's future with life insurance? Contact Parson Insurance Agency at 4779 Higbee Avenue NW Canton, OH 44718, to explore your options and get the right coverage for your family.
Also providing service throughout OH, PA, NC, and FL