Buying a Whole Life Insurance policy for a child provides a death benefit in case your child passes away. The death benefit can help to pay for the cost of your child's funeral and burial.
You may think this is not necessary; however, a small life insurance death benefit can help to off-set the loss of income during your grieving.
Also, many parents or grandparents like to provide a "Gift of Life" to the kids using a Whole Life Insurance Policy since it does grow cash value inside the policy over time which can be used in the future for several expenses such as a college education, or helping to purchase a first home.
And, whole life for children can guarantee your child has lifetime life insurance protection as an adult, even your child's health changes.
Here's how to buy whole life insurance for children
You may think this is not necessary; however, a small life insurance death benefit can help to off-set the loss of income during your grieving.
Also, many parents or grandparents like to provide a "Gift of Life" to the kids using a Whole Life Insurance Policy since it does grow cash value inside the policy over time which can be used in the future for several expenses such as a college education, or helping to purchase a first home.
And, whole life for children can guarantee your child has lifetime life insurance protection as an adult, even your child's health changes.
Here's how to buy whole life insurance for children
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