Buying Children Life Insurance
Disadvantages
- They probably won't use it
- Your child may need a medical exam
- Most young adults can get coverage later
- Insurance premiums may actually drop as your child ages
- Kids don't pose a financial loss
- Your group life insurance may already cover them
Advantages
- They can continue their current coverage into adulthood
- They can lock in a low premium
- They can convert to another policy when they’re 21
- They may become uninsurable later
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