Something to Know About Life Insurance for Children
One of the many questions that come up a number of times is that should children have an life insurance policy? Usually life insurance is necessary for a person with members who are dependent on him or her and hence it is generally considered as a salary replacement. So how useful is it to have life insurance for children?
This kind of policy for children is mostly one that insures a minor's life and is a form of a permanent life insurance. The cash value grows and as it matures, some companies allow withdrawal of the entire amount by collapsing the policy. Before choosing a plan it is wise to consider the advantages and disadvantages of the policy. Life insurance policy for a child is generally to meet the burial expenses or other medical expenses in the event of the child's death.
