Life Insurance on Children

Time and time again, I hear financial experts tell people that this is a waste of money because the odds of children dying young are so small.  Still, I think for some people a policy to cover burial expenses is a good idea.  My friends lost their infant daughter a short while ago, and they are now struggling with paying off funeral expenses and can't afford to buy a headstone.  It's a morbid thing to dwell on, but it seems that if a person doesn't have enough in savings to cover the cost of a funeral, then a small life insurance policy is a good option.

As a licensed life agent, I try to explain to people that adding a children's rider is a great idea for the exact reason you mentioned. After all, no one knows when death is a second away. Children's riders are very inexpensive.

An alternative is the life programs advertised on television for children. Before you send any money, check with your state's insurance department to be certain the company is licensed in your state.

Regardless of what you decide to do consider insuring your children.

My parents took out a policy on me when I was an infant. I am now "cautiously" approaching 50, and every time I deposit the dividend cheque from the policy, I'm reminded of my parents thoughtfulness at the time, not so much for life insurance on me, but for the fact that there still is a return on the "investment."

I guess it's a smart move to cover funeral expenses, but a large coverage seems weird to me.

Making a child insurance is a worthy one and surely thats not going to end with the funeral expenses and other accessories. The important factor is we should get right money at right time when we are in need.