Life insurance on children (and babies) has always appeared very controversial to most people we spoke with. After all, why would you get life insurance on a brand new person who's likeliness of dying prematurely is virtually nil? Expressly in the United States of America where people are living longer not shorter and infant mortality is at an all-time low.
For that matter, why even get life insurance on anyone. Aren't the odds in our favour now a day? If they were not, the insurance companies would be advancing rates not lowering them (bet you did not know that insurance rates could ever go down). You can also visit http://www.planoinsurance.com/insurance-plano/ for getting the best insurance quotes.
Then the question may not be, do children need life coverage but does anybody need life coverage? The answer is, regrettably, still yes. And we say unfortunately because people are still hanging in considerable numbers and families are being greatly affected by, not only the personal loss but also the financial loss that occurs when a loved one is gone.
Since we have ascertained that a financial burden still exists when an adult dies (if you don't then stop reading), then you may now understand our reason for taking out an insurance on a child. Yes, losing a child (God forbid!) may not create a great financial burden on parents when they are little but when the child grows up and starts a family on his or her own, then, at that point their death may generate a financial burden on the own children and spouse or other dependents.