Insuring Children - Considerations for Parents and Grandparents

Insuring children lives are often overlooked. Parents and grandparents must consider insuring the life of children in their care. While the parents and grandparents must make sure that their lives are insured first and foremost, if funds are available to insure the children, the children lives need to be insured.

The insurance premiums for life insurance for children tend to be very reasonable because of their long life expectancy. However, tragedies and accidents can and do occur everyday. And, no one wants to have to take up a collection or draw down savings to bury a child. Therefore, what amounts to less that dollar a day, you can have a whole life policy on your child that build up cash value and one that the child can maintain at a low premium once he becomes self-reliant.

One other matter to consider is that if the child become uninsurable and the existing policy is in force, it can not be cancelled by the company.