Child life insurance is about preparing for your child’s future and it is a very strategic move. It is very easy to qualify for life insurance coverage at a minimal rate when a child is young and healthy, if the child becomes ill with a chronic disease it can be near impossible to get coverage.
About.com has some good points on why child life insurance is a good buy.
- The small policies are affordable. Having anywhere from a $5,000 to $15,000 plan is a good starting point.
- Once you get it, the rate is locked in. Meaning, that in 20 years, their $15,000 policy you paid $10 a month for will still cost the same.
- One of the primary benefits of having a child life insurance policy is that your children will always be covered regardless of their future health. With a policy that guarantees he or she will always be insured, they’ll be covered when their 70, regardless of his or her health.
Signing up for child life insurance coverage now will ensure that your child is covered for the rest of their lives and it won’t matter how old, healthy or dangerous their occupation is.