Should I buy life insurance policy for my child?

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PostPosted: Mon Apr 06, 2009 12:47 am   Post subject: Life insurance on kids  

If the parent can easily afford the premium, it can make a ton of sense. First of all, I agree that a child doesn't need insurance in the vast majority of cases. I sell kiddie policies because they guarantee that the child will be able to buy $1,000,000 of coverage in the future without any medical questions. Insurability is fragile.

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PostPosted: Mon Apr 06, 2009 1:28 am   Post subject: insurance  

Quote:
I sell kiddie policies because they guarantee that the child will be able to buy $1,000,000 of coverage in the future without any medical questions. Insurability is fragile.
I'm REALLY interested in what you have to say. Can you tell me more? Right now, my son is 16. What do you recommend?
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PostPosted: Mon Apr 06, 2009 1:45 am   Post subject:   

Quote:
I'm REALLY interested in what you have to say. Can you tell me more? Right now, my son is 16. What do you recommend?




I know nothing about you are your situation so I can't recommend anything. I can tell you something that I often recommend. Additional purchase protection riders are often available for 2x the fact amount of the policy up to a certain maximum and can be optioned 8 times. Let me give you an example.



Ex. Parent purchases a $75,000 WL policy on their child with a $125,000 additional purchase protection rider. At the age of 22, the child can purchase $125,000 of coverage. They can do this again at 25, 28,31,34,37, 40, and 43. That is 8 purchases of $125,000 with no medical questions for a total of $1,000,000.



This is only appropriate if the parent can easily handle the premium.
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PostPosted: Mon Apr 06, 2009 1:47 am   Post subject: insurance  

Can you tell me the premium for this particular 'senario'?

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PostPosted: Mon Apr 06, 2009 1:56 am   Post subject:   

It should be in the neighborhood of $700/year.

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PostPosted: Mon Apr 06, 2009 8:21 am   Post subject: hi  

Doing a Child life insurance for your child is certainly a good move.

It depends how much amount you want to keep for your child.

You can add your child with your policy or can take anotherpolicy

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PostPosted: Thu Apr 09, 2009 1:03 pm   Post subject: hi  

I must say its a good move of taking a child policy for your kid. But before taking any policy please look at the rider you are taken with the policy. like paying rider( u r the payer, if somthing happens to you, then whts the insurer company's stand after that. there are company's who continue your child's policy from there own n also they provide some benefits to your child after your death). also you got ur three generation insured if you take ur childs policy.

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PostPosted: Fri Apr 16, 2010 2:47 am   Post subject:   

OMG! R we nw a cht rm?



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PostPosted: Fri Apr 16, 2010 12:30 pm   Post subject:   

looks like it.. Rolling Eyes wish I got an extra dime for everyone of these I delete...here we go again... Rolling Eyes



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PostPosted: Wed May 12, 2010 2:45 am   Post subject: hello for everyone  

HI

Im new here . I want to say hello for everyone.


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PostPosted: Wed May 12, 2010 7:59 am   Post subject:   

Hello to you, too.



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PostPosted: Thu Jun 03, 2010 12:46 am   Post subject: My first post :P  

Hi, from Toronto, Canada



Just a quick hello from as I'm new to the board. I've seen some interesting posts so far.



To be honest I'm new to forums and computers in general Smile



Mike


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PostPosted: Thu Jun 03, 2010 11:53 am   Post subject:   

Welcome Mike



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PostPosted: Wed Mar 09, 2011 7:27 am   Post subject: one time deposit 03month child  

i want deposit one time rs 50000 for 03 month old child.

plz advise me who is better plan for future.


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PostPosted: Thu Sep 15, 2011 10:35 am   Post subject:   

I needed to know whether itÂ’s necessary to buy a separate life insurance policy for my child as well? Will it cost a lot more when he becomes adult?


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