What is the purpose of getting Child Life Insurance?
Bill
Ft Worth, TX.
Bill,
Let’s examine the question a little more.
There is one good reason why it makes sense to purchase cheap child life insurance for your child now. Doing so can protect your child in the event he or she develops an illness later on in life which an insurance company might consider uninsurable or that may be insurable but will be so at a high price.
Child life insurance is practically guaranteed. Yes, even a child can get a policy in his or her name. Many people are taken back by the thought of purchasing life insurance for their children or their grandchildren.
If you decide it makes sense to purchase child life insurance for your child, be sure you understand the rights the insurance company guarantees your child when he or she turns 18 years of age.
Excellent Question Bill.