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Do I Need Life Insurance for my Children?

By Tawnya Stuedle

Do I need life insurance for my children? Some people will tell you there is no reason to purchase life insurance on a child. They don’t make money so there is nothing to replace.

I’m here to tell you this thinking is wrong!

And I have two reasons why life insurance for children is a must.


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Everything is expensive

Funerals cost money. According to funeral-tips.com the average funeral cost is between $8,000 and $10,000. Many families do not have this kind of money lying around. Health insurance deductibles have also been increasing. Even an insured family can be left with large medical bills. Parents will also need to take time off work to grieve. Unfortunately household bills will continue to accumulate.

Life insurance can obviously not ease the pain of losing a child, but it can help to relieve some pressure from a financial standpoint. One less thing you have to worry about.

Ok, as a parent that’s really hard even just thinking about it, so let’s move to another reason that’s not quite so depressing.

READ MORE: Term Life Insurance vs Whole Life

Your child becomes uninsurable

At some point in your child’s life they could be diagnosed with a condition that makes them either uninsurable or insurable but the premiums are too expensive.   For these young adults (I personally know people diagnosed even into their mid 20s) the only life insurance they have are policies purchased by their parents when they were kids. They are so grateful for these policies. Even if the values of the policies are small, they know their surviving spouse, children, etc, will receive some help in the event of their untimely passing.

Life insurance policies have many options available now that allow them to grow with a child. Guaranteed renewability, converting from a term to a whole life, increasing the face value without proving insurability at set ages, just to name a few. It’s worth talking to someone that can explain to you coverage options and the options the child may have into the future as an adult.

No one likes to think about death and what ifs. It’s really not a fun topic to write about either, but as the famous Benjamin Franklin saying goes,

“In this world nothing can be said to be certain, except death and taxes.”

Are you prepared for tomorrow? What are you waiting for?

Filed Under: Life Insurance Tagged With: Children, Life Insurance

About Tawnya Stuedle

Mother, Manager, Insurance Maven. Tawnya has been with the agency for over 13 years. She proudly holds the Certified Insurance Counselor (CIC) designation.

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  Text: 816.632.7248 This phone number will not accept pictures via text message. You may email pictures to tawnya@jblbinsurance.com.

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