Life insurance on children

When your baby is born, you receive offers for life insurance for your child. Life insurance on children is not a great idea. The companies tout the policies to you as a great investment on your child. They’ll have life insurance when they’re older. They won’t be denied life insurance if they end up with a medical condition when they get older. The policies they are offering on your children are whole life, universal life, or some variation thereof.

Don’t fall for it. Remember, you only need life insurance when you have someone depending on you. If you have a spouse, children, parents that depend on you, or some other person that depends on you, then you need life insurance. Get Term Life Insurance only. Don’t get whole life, universal life, annuities, or anything other than term. A baby does not need life insurance, unless you have them earning money, such as in commercials or movies. Some people might want to get a small amount of term life insurance to cover burial costs in the event of a premature death. Otherwise, avoid it like the plague that it is.

 

Share:

More Posts

Desire Wealth

Desire Wealth

Are you captivated by the idea of material success and financial security? While it’s a natural desire, the pursuit of wealth can lead to destruction, as warned in 1 Timothy 6:9.

Money Management Made Simple: The Ultimate Guide for Young Adults

Money Management Made Simple

Image via Pexels As young adults, we’re entering an exciting but challenging phase of achieving financial independence. Our wallets, credit scores, and overall well-being should

Enhance Your Retirement Finances Smart Tactics for Seniors

Enhance Your Retirement Finances

Image: Freepik Enhance Your Retirement Finances: Smart Tactics for Seniors Seniors, do you want to enhance your retirement? Then, read the below article: Embarking on

Safeguarding Seniors

Safeguarding Seniors

In a world where financial exploitation of seniors is increasingly prevalent, empowering this vulnerable group with

Send Us A Message

MRHerrera