Do I Need Life Insurance for My Child?

There are several reasons to consider buying life insurance for your children.

First, while the mortality rate for children is low, you’ll want to have money for final expenses should they tragically fall victim to an illness or accident.

On the brighter side, policies for children are often whole life policies that build cash value, which can later be accessed for college or given as a gift when they become adults.

Some child life insurance policies allow coverage to be increased without proof of insurability.

You may find it convenient to add a child “rider” to your own policy when you purchase life insurance, and coverage may be inexpensive.

Learn how to get life insurance for your child.