ESC and Child Health Insurance
In California, are you required to have health insurance for your child if your job offers family insurance?
In California, are you required to have health insurance for your child if your job offers family insurance?
1. In California, are you required to have health insurance for your child if your job offers family health insurance (medical, dental and vision) for you and your child?
2. does the court require you to sign up your child through your workplace’s health insurance (family plan)?
note: I Read more
How is double health insurance coverage handled for child when parents are divorced?
How is double health insurance coverage handled for child when parents are divorced?
1)Father required by court decree to carry child on health insurance
2)Mother enrolled child on new hubby’s plan through employer
Which is primary and secondary? I understand that it is usually determined by subscriber’s birth date (which would make #2 primary), but is this the case when there is a divorce Read more
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Health Insurance For Children means Parent’s Peace of Mind
Health Insurance For Children means Parent’s Peace of Mind
It’s not something we like to think about as parents: the idea that one day your beloved child might need health insurance. But just because you don’t want to think about it, doesn’t mean you shouldn’t look into the idea further. As parents, we want what is best for our child, and looking after their health as much as we can is an important Read more
Medical Health Insurance For Children and Students
Medical Health Insurance For Children and Students
Many parents overlook the provision of health insurance for their children, often assuming that the state provides cover while the children are young and that colleges and universities will pick up this responsibility for students. Unfortunately, this is not the case.
In order to deal with a growing problem of children living in the United States Read more
Houston Life Insurance For Kids
Reader’s Question:
Hi. I want to know more about life insurance for kids. Do you think it’s necessary to get one? What are the factors that we as parents need to consider?
Donna
Houston Texas
Hey, Donna. As always, there will be debates and controversies over purchasing life insurance for kids. There are some financial experts who will affirm that it is an affordable way to set money aside for a child’s future, while other will assert that there are other options to save money. So, whatever you think is best for your kids, it is very important to provide and support for their future. For parents who are contemplating to purchase life insurance for kids, you need to consider the family’s financial situation and the family’s health history .You also need to determine the amount and the type of the insurance and check on other investment.
- One of the most important reasons to have your child insured is to protect their future and is assured of life insurance even if they develop severe illness.
- Life insurance for kids can also be helpful for them financially in the future. Premiums increase each year as a person age. You can lock in a low premium rate throughout your child’s life if you buy a permanent insurance while they are still young.
- As a parent, you need to understand the difference between term life insurance and permanent life insurance. Term insurance covers only for a specified period of time .You have the option to convert your policy to permanent life insurance or renew your policy but at a higher premium rate.
- Permanent life insurance plans can be applied as an additional way to accumulate money because of the cash value that builds up. In the future, your child could borrow from the cash value for emergencies, to buy a house or even help pay for a college education.
- Life insurance for kids is also important in case something should happen to your child. It serves as a death protection plan.
Houston Child Term Life Insurance
Reader’s Question:
Hi. My ex-wife is trying to convince me to get a child term life insurance for our daughter .But I’m very hesitant about this and would like to check on other opinions. What do you think? Can you give out more information about this?
Cedric
Houston Texas
I’d be glad to solicit some advice on this Cedric. For starters, a child term life insurance is considered as a temporary protection because this only provides coverage for a limited period of time. Thus, after that period, the insurer can choose to either drop the policy or pay annually and increase premiums to continue the coverage. If by any means that the insured passes away during the term, the death benefit will be given to the beneficiary. Child term life insurance is usually availed to provide a death benefit for the guardian or parents to cover the child’s burial expenses in the occurrence of an unlikely and certainly unwanted death. Child term life insurance is often the most economical, rather an inexpensive way to purchase a substantial death benefit on a coverage amount per premium dollar basis, so to speak.
Also bear in mind that a child term life insurance does not build any cash value and neither has a future benefit later in life for your daughter. There is no investment or cash value that builds in this term policy. The premium payments will just increase as you renew the policy since it offers a death benefit and nothing more.
If you want to make a wise decision, you can invest in your child’s future by opting for a whole life policy. A whole life insurance is commonly purchased for children to provide both burial expenses and as well as, an investment opportunity for the child which can benefit them in the future. So, you and your ex-wife should try to compare quotes and policy details for a whole life insurance from several companies before deciding what the best insurance for your daughter is.
Houston Life Insurance For Children
Reader’s Question:
I’m planning to purchase a life insurance policy for my five-year old child, however, I read a lot of opinions in the internet against life insurance for children for being obsolete and useless. Can you enlighten me of how purchasing an insurance policy can benefit my child?
Samantha
Houston Texas
There are a couple of debates ongoing regarding the importance of purchasing life insurance for children. For those against it, they say that it is an obsolete product that has already been replaced by more effective saving tools such as a college insurance plan. Others insist that it is wrong to sell insurance to someone who’s not earning anything or those who doesn’t have a job, such as the children.
On the other hand, proponents of life insurance for children assert that insurance is simply preparation for the expenses of a future event. However, many parents view purchasing a life insurance policy for their child as too morbid to consider. The proponents of Houston child life insurance further explained that one of the main reasons why getting life insurance for children is a good decision is to prepare for the death of a child, a scenario that families often have a hard time accepting.
A death of a child can be both emotionally and financially devastating to the family, especially for the parents. Having the financial cushion such as those obtained through the life insurance of the child will prevent the remaining family members to be deprived from the benefits of their regular income as they spend the needed time to grieve and mourn.
Life insurance for children in Houston are available in term life insurance and whole life insurance. Most of the insurance companies, however, offer the term child life insurance that has small premiums and does not build cash. On the other hand, there are few companies that offer the whole life insurance.
Purchasing a whole life insurance for a child will give the opportunity for him or her later in life policy because the policy can increase a its cash value over time. Thus, providing a safety net for your child when they get older. In addition, the whole life insurance protects your children against any changes in their health. Sooner or later, during their adulthood, your children will definitely purchase a life insurance for themselves. By this time, their premiums may be much higher than they were younger plus the additional premiums compounded by their health conditions.
On the other hand, if children have been insured earlier in their lives, even with a term life insurance, they become automatically eligible for any type of insurance during their adulthood. This is very important for your child especially if you know your family has a history of illness.
To conclude, despite the many arguments over the internet regarding acquiring a child life insurance, there are also several reasons as to how it can benefit the children insured when they get older.
Houston Life Insurance Benefits
Reader’s Question:
Our company is giving us an option to choose between annual incentive cash pay and life insurance. Can you enlighten me about life insurance benefits?
Marla
Houston Texas
We plan for our birthdays, weddings, and other celebrations in life. But most of us overlook to plan for our death. Death is very unpredictable. Thus, the more reason we should plan for it. It is where life insurance comes in.
Life insurance benefits can be classified into two types of benefits. One is the monetary benefit. The financial benefit which is quantifiable. You get a death benefit that will make up for the financial loss in the event of your death. The monetary benefit your family will get can be used to cover the cost of your funeral and burial expenses. You also have to consider the florist’s fees and the advance payments for the maintenance and care of your burial site.
Life insurance benefits will also cover your incurred debts during your life time. The debts left behind may cause a major financial crisis to loved ones if you do not have life insurance. They are your college loan balances, car loans, credit card balances, bank loans, and even loans from other people. Your numerous unpaid bills – telephone, cable, water, electricity – can also be added to your debt list. Your unpaid taxes also need to be examined. And, even the medical expenses from your death that might not be covered by your medical insurance can also be considered as debt.
The second type of benefit from life insurance is the intangible benefit that, sadly, we take for granted most of the time. Your car has insurance. Even your washing machine has insurance. So life insurance benefits are something you no longer need to weigh if they are valuable or not. Life insurance gives your family protection and security when the time will come that you are no longer there to provide for them. These benefits are something that cannot be quantified by money. Getting a life insurance is a way of showing how much you love your family as you protect them ahead from facing serious financial problems brought by your loss.