Does my child need another life insurance policy? Or, is it that I am allowed to add him on my own policy?
Total Comments: 32
Posted: Tue Sep 20, 2011 06:54 am Post Subject:
I needed to know whether it’s necessary to buy a separate life insurance policy for my child as well? Will it cost a lot more when he becomes adult?
While there is nothing to prevent a child from being insured separately, it is often not a great choice. As "B" has said, if you have an existing life insurance policy, it may be possible to add your child to the policy inexpensively "by rider". Your child would have to show proof of insurability.
The cost of life insurance is age-dependent. Younger age, lower premium (because there are more years available to pay premiums). Older age, closer to dying, higher premium. Those facts are inescapable.
Posted: Sat Apr 21, 2018 10:08 am Post Subject: Child Insurance
Hey, I am sharing a link with you that might help you regarding child insurance. Thank You
http://www.insuranceconsellor.com/different-myths-child-insurance-plans/
Posted: Tue Sep 20, 2011 06:54 am Post Subject:
I needed to know whether it’s necessary to buy a separate life insurance policy for my child as well? Will it cost a lot more when he becomes adult?
While there is nothing to prevent a child from being insured separately, it is often not a great choice. As "B" has said, if you have an existing life insurance policy, it may be possible to add your child to the policy inexpensively "by rider". Your child would have to show proof of insurability.
The cost of life insurance is age-dependent. Younger age, lower premium (because there are more years available to pay premiums). Older age, closer to dying, higher premium. Those facts are inescapable.
Posted: Sat Apr 21, 2018 10:08 am Post Subject: Child Insurance
Hey, I am sharing a link with you that might help you regarding child insurance. Thank You
http://www.insuranceconsellor.com/different-myths-child-insurance-plans/
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