INSURING YOUR CHILDREN

February 2012

     

 

No one likes to talk about it because no one wants to entertain the thought.  Parents dare not imagine for a single moment the possibility of one of their children receiving the diagnosis of a critical illness or passing away.

Yet, not talking and not thinking about the financial consequences of unfortunate events such as a critical illness or the death of one of our children, does not make the possibility of these situations less likely. Having sufficient and appropriate insurance coverage for parents and children is an integral part of family financial planning.

Besides providing funds to cover funeral expenses, insurance for children will provide a financial cushion in the event of a disaster. This will allow parents to take additional time off work to cope with such an ordeal.

Acquiring insurance for minor children also provides several advantages:

  • Low premiums when children are young and in good health
  • Guaranteed future insurability
  • Protection against possible exclusions
  • Additional savings for education
     Of course, parents should ensure that their own insurance program is in place prior to considering insurance for their children. If you would like more information on this topic, please contact your insurance licensed Richardson GMP Investment Advisor today.

 

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