Yes, life insurance can provide peace of mind, but taking out a policy for your child may not be the best idea. First, child plans do not insure children; it is no more than an emotional play for parents to consider an insurance plan that will address future financial needs of the child, especially their education needs in case of a fatality of the parents. Remember, life insurance is to replace income (to protect dependents financially) in the event of premature death. If you have adequately planned your life insurance needs, it would have taken into account your child’s future financial needs. There is no need for you to take a separate child plan, unless you see it as the only disciplined way for you to create a fund for your child’s education needs.
Should I consider life insurance for my children?
<p>There is no need for a separate child plan, unless you see it as the only disciplined way.</p>
