Life insurance for children

Tue, 26 Sep 2006

Children are usually thought of as the potential beneficiaries of a life insurance policy, and not as the insured party themselves, and yet many insurance companies offer life insurance policies for children. Many parents want to protect their child in any way possible, yet some experts urge the consumer to think with their head rather than their heart.

One American expert, John Opdyke, commented that children do not on the whole need life insurance . He claims that life insurance is for individuals who have others depending on them in case of loss of income. Parents, Opdyke urges, should have life insurance policies for themselves so that their children are protected.

However, exceptions do arise. This could include cover for funeral arrangements, generally a small term policy. Furthermore, Opdyke adds, insuring a child also ensures their insurability later in life. If your child has cover from a young age, cover will likely remain easier to obtain.

Opdyke points towards a college fund for your child as an alternative.
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.

 

 

LV 50 Plus Plan

The LV 50 Plus Life Insurance Plan from Liverpool Victoria is cover for people over the age of 50.
Click here to apply

Mortgages