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 Posted: Sat Dec 20, 2008 10:32 am Post subject: infant life |
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Guys!
I think its not too easy to determine the coverage amount that I'd need for myself and my children.
Never really got scared to look for cover like now!
How would a mother know the exact worth of life insurance that she'd need for her infant?
Tk Cr
momorlando
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momorlando
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| Posted: Sat Dec 20, 2008 1:00 pm Post subject: |
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IMO the best way to deal with this is to obtain separate policy for your child..
If you wish you may avail a rider for your child that may cover him/her on your own policy, but this would quite depend on your carrier. Whenever you apply for a rider, you'd come to know of the policy exclusions, the cost involved and other important limitations.
Wish you all the best.. Circus_Jones
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Circus_Jones
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| Posted: Sat Dec 20, 2008 3:46 pm Post subject: Infant Life Insurance |
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Yes, you may be able to add coverage for life insurance for your child to your own life insurance policy by adding the child rider.
In addition, there are children life insurance policies that provide individual coverage for your kids.
Some companies that are well-known for these policies are Gerber Life and Globe Life. Usually, they offer up to $30,000 or $35,000 of life insurance for your child.
When your child reaches adulthood, they may be able to increase their life insurance coverage without having to take a physical exam.
You can learn more about life insurance for children << term-life-online.com/life-insurance-for-child.html online, or visit the websites for gerber life or globe life.
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Hadley
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| Posted: Sun Dec 21, 2008 3:42 am Post subject: insurance |
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| I don't have Gerber, but....from what I've read, on the PC and what other's have told me ( who DO have Gerber's Insurance for their infant..), the information looks and sounds pretty good. |
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sdchargersfan
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| Posted: Sun Dec 21, 2008 2:33 pm Post subject: |
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I have policys on my grandbabies, thru the company i have all my insurance with...they are one time payments that pay the policy in full till the kids are either 24 or 27 i don't remember...at any rate, ''economically'' there is no value to a childs life policy, meaning you would not lose any income if (God forbid) a child passed...I have small policys that will cover the expenses and not much more...everyone has their own opinion about life policys on children, so this is a question you can only answer yourself.
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Lori
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| Posted: Sun Dec 21, 2008 4:07 pm Post subject: insurance |
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MOMORLANDO..how old is your 'little one'? In my opionin, children are 'priceless'. 'You' want to do the best you can for them. Of course, my 'little one' is 15 now...SOON to be 16. I'm looking into Life Insurance policies for him. I've read, on this post, about people having lost ( passed away) their children. How do you 'deal' with that (just 'thinking outloud' here..)? I wouldn't want to live if a 'part of me' has passed . I'm not in that sitaution ( Thank Goodness) so, I don't know WHAT I would do. My son is my 'life'.  |
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sdchargersfan
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| Posted: Mon Dec 22, 2008 10:57 am Post subject: |
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sd, I always said, they'd need to dig that hole big enough for me to crawl in with 'em....I have the utmost respect for anyone that loses a child that can EVER get out of bed again.
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Lori
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| Posted: Tue Dec 23, 2008 12:16 pm Post subject: |
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| Wow I answered this last night and my post isn't here. I will try again. I use to think it morbid to carry insurance but the older I get I can see the reasonong in it. Sometimes it takes a tragic event or an illness to relize why the insurance is so important. I see the poster had mentioned she was never so scared until now so I am wondering if maybe there is something wrong. Hopefully not but if so maybe a quick explaination will help us all to answer better. |
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fireyone
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| Posted: Wed Dec 24, 2008 4:12 am Post subject: insurance |
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| FIREYONE.........strange, crazy...........cuz I could have sworn I made a post, about this, too, in the last few days....and the post isn't here. I THINK I made the post, AFTER LORI's post ( "loses a child could EVER get out of bed again.."). Anyway.........I SURELY believe a child's life is 'priceless'. However...............I guess we ( as parents) need to be 'realistic' about what MAY ( God Forbid) happen and how we would pay for tragedy, IF it does happen. |
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sdchargersfan
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| Posted: Thu Jan 01, 2009 6:32 pm Post subject: |
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What is the purpose of the insurance on the child?
One thing you can do is overfund a universal life, variable universal life, indexed universal life, or whole life policy. The policies will accumulate cash value which your child can use for college or for whatever they want.
If you are just looking for something to cover burial expenses, if god forbid something happened, I would look at a $25,000 universal life policy with Genworth, which would be dirt cheap.
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victor27s
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| Posted: Fri Jan 02, 2009 3:13 am Post subject: insurance |
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Are ALL of Universal Life policies "dirt cheap?" How cheap is cheap? There I go again,...getting confused about ALL of those Life Insurance policies, again. LOL  |
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sdchargersfan
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| Posted: Fri Jan 02, 2009 3:29 am Post subject: |
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SD,
Tell me the age of the child, gender, and how much you are looking for you and I'll tell you how much it will cost.
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victor27s
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| Posted: Fri Jan 02, 2009 3:33 am Post subject: insurance |
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| Ok.....VIC (LOL) I don't mean to be 'difficult'. I jsy don't know 'one Life Insurance policy from another...make sense? Male, 16 years old. How much am I looking for?...that's JUST it. I'm not sure how much I should 'carry..ya know? Any suggestions? |
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sdchargersfan
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| Posted: Fri Jan 02, 2009 3:36 am Post subject: insurance |
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Looking for a little 'something' for me, too. I have a Life Insurance policy through the Military. However,..looking for something for me. Something, for my son and I, that possibly build 'cash value'. I'm 45 years old ( I have the gray hair to prove it!!  ) and female. |
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sdchargersfan
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| Posted: Fri Jan 02, 2009 3:38 am Post subject: |
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SD,
This is for your son. You can get 25k UL guaranteed for life for $174.50/yr. There won't be much cash value accumulation. If you want something that will also accumulate cash value, let me know how much you are willing to spend per year and I'll run some numbers for you.
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victor27s
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