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Is Child Life Insurance Worth It?

Child life insurance plans often weigh on an interest-based rate plan, unlike adult life insurance plans. Such a plan will also possess a stronger likelihood of being designated to covers a child all the way through their adolescent to teenager years (up to a predetermined age or date - in many instances 18 years of age).

One pitfall that a lot of consumers fail to realize and is very significant is the variable in which life insurance for a child can be otherwise depleted or terminated due to an unexpected illness occurring or, predispositioned mental health illnesses that disrupts or is identifiably related to the cause of a child's death - i.e. suicide. Interestingly enough, although not specifically outlined in the aforementioned article regarding adult health insurance, health insurance for your child may be limited, and otherwise refuse to process payment if your child is harmed or killed in the event of war for example - such as that of voluntarily enlistment.

Considering the level of various constraints or 'fine-print', many people elect, like adult life insurance alternatives, to instead create a savings for their child in the event that they are stricken by illness or lose a vital family member that (primarily) contributes financially to the balance of one's fiscal sustainability.

While some life insurance plans for children offer a college fund savings, this is not commonly the case and also will often include a heavier premium (in the scenario that such a service or benefits are included).

Lastly, those considering child life insurance should evaluate the likelihood of ability to, sadly, pay for their child's funeral and burial, versus the total amount of dollars paid throughout the life of a contractual agreement to provide life insurance for that child should nothing of such nature having ever occurred.

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