what is minium age for life insurance??

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PostPosted: Fri Apr 24, 2009 12:59 pm   Post subject:   

Hi Expert,



It would be too risky for a carrier to cover a one-day old keeping with it's survival chances.



Quote:
At the very least, I would guess that an insurance company wouldn't want to write the insurance until after the baby has left the hospital and has had their first post-hospital visit with the pediatrician.




I'm wondering what would be a waiting period under such circumstances. Smile



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PostPosted: Fri Apr 24, 2009 7:44 pm   Post subject:   

Life insurance policies usually don't have waiting periods. Sometimes, the death benefit is less for a couple of years. These are usually policies that are guarantee issue. The benefit, for example, for the first two years might just be a return of premium + 5%.
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PostPosted: Sat Apr 25, 2009 5:25 am   Post subject:   

I personally feel that buying life policy on an infant doesn't worth the money, rather the parents should take care in insuring themselves to secure the future of the child. At least, IMO, the life insurance would offer the necessary financial protection to the kid at the event of the death of the parent.



~Jeremy

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PostPosted: Sat Apr 25, 2009 10:16 am   Post subject:   

Quote:
I personally feel that buying life policy on an infant doesn't worth the money, rather the parents should take care in insuring themselves to secure the future of the child. At least, IMO, the life insurance would offer the necessary financial protection to the kid at the event of the death of the parent.



~Jeremy




Jeremy, where did someone mention insuring the child without properly insuring the child? There is no question that it is much more important to insure the parent. That does not mean that it's not worthwhile to insure the infant. Do you have ideas of why it might make sense to insure an infant?



I'll give you a hint. It has almost nothing to do with worrying about what happens if the child dies young.
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PostPosted: Sat Apr 25, 2009 3:00 pm   Post subject:   

Quote:
It has almost nothing to do with worrying about what happens if the child dies young.


Lower premiums for the future and the accumulated cash value are two good reasons for the parents to get their children covered. It creates a safety network around them. Steven
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PostPosted: Sat Apr 25, 2009 11:47 pm   Post subject:   

The biggest reason why I think that it is important to buy insurance on a child is that if it is done properly, it can guarantee that they can buy $1,000,000 of coverage as an adult with no medical questions.

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PostPosted: Mon Apr 27, 2009 5:37 am   Post subject:   

yes I agree with the statement if one is insured in an early age one will surely get a preference for the policy coverage but he/she has to fulfill the basic criterion of policy issuance.



Yes, it is true when one is insured at an early age one does get some concession (discount) on the premium from the insurance company. Wink



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PostPosted: Mon Apr 27, 2009 9:06 pm   Post subject:   

Amit, not only are you agreeing with statements that were never stated, but what you are saying is incorrect.

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PostPosted: Tue Apr 28, 2009 6:41 am   Post subject:   

Quote:
The biggest reason why I think that it is important to buy insurance on a child is that if it is done properly, it can guarantee that they can buy $1,000,000 of coverage as an adult with no medical questions.




Okay, does that mean that if you were insured as a child you can buy life policy at any age after attaining adulthood without passing through the medical underwriting screening?



Quote:
it can guarantee that they can buy $1,000,000 of coverage as an adult with no medical questions.




Is it the maximum amount of insurance coverage that one might get without medical underwriting?

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PostPosted: Tue Apr 28, 2009 10:20 am   Post subject:   

It depends on the insurance company. One of the top ones will allow a rider on a policy that will allow someone to purchase $125,000 of coverage as an adult with 8 option dates. 8 x $125,000 = $1,000,000. When they purchase this coverage, there are no medical questions.

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PostPosted: Wed May 13, 2009 9:36 am   Post subject:   

More and more people are turning to life insurance to safegaurd both their and their families health and provide cover in case of sudden death. the trend is not localised to adultd olone, parent are taking policies fot their unborn, new born and young kids. However, minimum age changes from policy to policy, depends on policy criteria and termsand conditions

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PostPosted: Tue Aug 30, 2016 2:25 pm   Post subject: life insurance  

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PostPosted: Tue Sep 27, 2016 7:40 am   Post subject: Age depends upon company  

it basically depends upon the company and its products.Some companies allow this at 18 but a few plans also offers cover to infant.Some of the good life insurance companies are Edelwesis Tokio life insurance,icici lombard


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