Aug 25
Tip for life insurance and children
Should you purchase life insurance for your kids? Some financial planners will tell you that you should only do so if your child's death would create a financial hardship on you and your family. But life insurance salespeople will suggest otherwise.
Some salespeople will tell you that buying life insurance policies for your children is important in order to gain protection in the event he or she develops a medical condition. In that scenario your child would be assured of having life insurance in the future -- and likely save money on any medical-related costs.
Comment: For other life insurance tips read The Radical Guide to Life Insurance.
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Comments
Don't buy life insurance for kids.
Don't even buy life insurance for spouse if you can sustain yourself and your kids by your own.
Don't even buy life insurance for yourself if you do not have dependents that can't survive on their own or witht he money you will leave them.