Why Life Insurance for Your Child May Not Be the Best Choice

When clients inquire about life insurance policies for their children, my first question is always whether they have adequate coverage for themselves. Statistically, adults face a higher risk of mortality than children, making it more crucial for parents to secure their own insurance.

While the intention behind purchasing life insurance for a child is often well-meaning, it’s typically more beneficial for the child to have access to a solid healthcare plan and a savings program instead. These options directly address their immediate needs and future financial stability.

In contrast, life insurance is generally more appropriate for parents. It provides financial security for the family during an unexpected loss, ensuring that loved ones are supported during challenging times.

#lifeinsurance

#healthcare

#savingsprogram