My parents bought a small life insurance policy for each of the 5 kids in the family when we each were born.... Only like $10k-$15k, but enough to cover any unexpected funeral/burial expenses. It turned out that 2 of my siblings died of cancer (aged 7 and 17), so the policies my parents had on them definitely helped cover those expenses. What remained of each policy after burial expenses was distributed among the rest of us in savings/investments in our name that my parents have also been building for us since we each were born.
Death of a child is almost never expected. However, in the unfortunate event that it does happen, having a small policy to cover death expenses can save a family's finances. I know it did for my family, especially since my brother and sister both died within 3 years of eachother. When I eventually start a family, I plan on doing so. Plus, by being consistently insured since birth, doesn't it make it cheaper/easier to get bigger/better/cheaper policies later on in life?
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"Praestantia per minutus" ... "Acta non verba"
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