It's very smart to take out life insurance on your kids and grandkids. They are very inexpensive to insure.
With a good whole-life policy you can pay it in full for them within 10 or 20-years and give it to them as a financial gift later in life. You can also guarantee that they have insurance so that if they get an uninsurable condition later, they are already covered. Good policies even give them guaranteed purchase options later in life.
When you buy your children's life insurance don't just think about funeral and burial costs but also the time you will want to take off of work in the event of the death of a child.
Yes, life insurance works for kids. Some policies do have a minimum age limit of 18 to 20 years old, but many will work for children as young as 15 days old. You can also add children to their parent's policy as a "child rider". Although they don't have to take an exam, a child will need to have relatively good health to get life insurance.
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With a good whole-life policy you can pay it in full for them within 10 or 20-years and give it to them as a financial gift later in life. You can also guarantee that they have insurance so that if they get an uninsurable condition later, they are already covered. Good policies even give them guaranteed purchase options later in life.
When you buy your children's life insurance don't just think about funeral and burial costs but also the time you will want to take off of work in the event of the death of a child.