We receive this question a lot from parents. Scour the internet for “life insurance on children” and you will read some scathing reasons from financial “experts” why purchasing life insurance on the life of children is a waste of money.
Some of the reasons they state we agree with. Yes, we do! (We get into that later.)
However, these experts are missing an important component of life insurance that makes coverage on children beneficial.
In this article, we discuss the benefits and when to buy life insurance on your children. We also discuss when you should not buy life insurance on your child, too.
Selecting the right life insurance policy is no laughing matter. We all need the proper coverage. (Yes, even you single person unless you already have funding for your funeral lined up. I bet you don’t, though.) Yet, when we review policies from non-clients (people looking for our help), many of them have made some devastating life insurance mistakes.
security number. Maybe you’ve applied elsewhere, and the carrier declines your application because you don’t have a social security number. You are concerned about your family and loved ones if something were to happen to you. You know you need life insurance. However, you need the right documentation. Is that holding you back? Luckily, we have options. In this article, we discuss life insurance for people without a social security number.
We know the feeling…you need life insurance, but the thought of going through an insurance agent is worse than getting a tooth pulled. Or, it is worse than a migraine. (Hey, that is what one person told us!) We at My Family Life Insurance understand. You can purchase term life insurance on your own. Even in your bunny slippers while drinking coffee. We call it DIY term life insurance.
We wrote an article that described the