Why Honesty Is The Best Policy With Car Insurance Quotes
Why Honesty Is The Best Policy With Car Insurance Quotes
If you are a young driver either learning to drive or if you have just passed your test recently, then the business of getting car insurance quotes is likely to be a new one to you. Sadly, the truth of the matter is that as a young driver (especially a young male driver) you are statistically the most likely demographic to have an accident. Read more
Can my ex put my child on his new wife's health insurance?
Can my ex put my child on his new wife’s health insurance?
My ex is going to put my child on his new wife’s insurance… Can he do that? I think I have issues w/ it….
Max New York Life Insurance -Smart Steps Unit linked …
The Legal Process for Child Injury Claims
Depending on which county the lawsuit is filed in, the discovery phase can take many months or sometimes more than a year. When discovery is completed, and each side knows what evidence will be offered at trial, this is the time when the parties may conduct settlement discussions. Sometimes the parties will engage in alternative ways to resolve the case, like mediation. In mediation, the parties agree Read more
Who On Earth Needs Life Insurance On Their Children?
Many people have asked me lately about life insurance for their children or grandchildren.
Let me PREFACE this message by stating that kids DON’T NEED life insurance SINCE nobody is depending upon their income to make ends meet, unless perhaps they are a child TV or movie star. And this is certainly not a subject to dwell on…
But here are a couple of reasons why many parents like to have life Read more
ESC and Child Health Insurance
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
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
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.