What will you do if your child passes away?
Will you need time away from your job?
Will you need money to purchase the things you and your spouse want to for the child including a casket and memorial service?
What if you can't afford a headstone or burial plot?
While it is easy to have an answer when not faced with the situation. It's another thing to live through losing a your own child.
Locking in a permanent life insurance policy now for your child gives them the best price at the lowest cost when they are in the best health of their life.
The opportunity to build cash values inside the life insurance policy over a long period of time offers the opportunity for a future loan if needed.
Something else you can do with a child's life insurance policy is buy future insurability options where your child can increase their amount of life insurance coverage later in life without a medical exam needed.
What these future options do is "take away" an insurance company's ability to say "No" to your child for life insurance later in life when maybe their health is not so good, and they may not qualify to buy a policy when they need it later on.
Here's how you can get life insurance for your child.