Why Would Children Need Life Insurance?

If you're a new parent you may be wondering why you may need life insurance for your child, or why children would ever need life insurance?

Well, there are some very important benefits of children's life insurance for you and your child.

First, a child life insurance plan provides a death benefit if your child should pass away. You as the owner and beneficiary of your child's life insurance policy would receive the death benefit to use as you see fit. You can use the funds to provide a memorial and funeral for your child.

In addition, a children's life insurance plan can provide your child with important coverage bot now and in the future.

Child life insurance provides your child with lifetime life insurance protection with a guaranteed rate that will never increase.

And, your child may add more coverage to his or her policy when reaching adulthood.

Also, without child life insurance your child may be unable to qualify for life insurance as an adult if her or she develops a health issue; such as, diabetes or becomes overweight.

Also, a child life insurance policy builds cash value inside the policy from which your child may take a loan if needed in the future.