How Much Life Insurance Do I Need For My Child?

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   Ted Ratliff

   Owner, SFS Associates,

   I recommend at least enough to pay final expenses and possible medical bills.  Keep in mind, the loss of a child is an extremely emotional and stressful time.  The last thing a grieving parent needs is to try to figure out where to come up with the money to pay for burial and medical bills.  Life insurance on a child is not expensive.  My personal opinion is a base of $25000.  If the child doesn't die, it puts the child in a good inexpensive plan until he can afford additional insurance when he is older.

   Answered on June 7, 2013

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