Did you know that you can buy children's life insurance
? I have mixed feelings about it. I would never want to insure my child's life, I mean I can't imagine something happening to my children, and if it did, I sure wouldn't want to benefit from it financially. That being said someone once pointed out to me that funerals cost a lot of money, and it would be nice to not have to worry about that if something happened. I still don't think I could do it though.
I feel the same way as you, it just seems wrong. Bailey and I have had the discussion. His thoughts are that God forbid something like that actually happen, but if it did insurance could cover the cost of a funeral and ease the cost of living when one or both parents are likely to need some time away from work to mourn. It's a good point but I still can't fathom getting insurance on my kids. Loosing one of my kids would cause the world to stop for me, I can't imagine anything making that easier even if in reality insurance could. Just unthinkable. It's like deciding your will and who will look after your children if something ever happened to you...one of those things no one ever wants to think about.
My parents took out a life insurance policy for me when I was a baby and I think that it was so very smart on their part. Now, as an adult, I have a great life insurance policy at a great rate and it's one less adult financial thing that I have to worry about. Of course I have life insurance through work, also, but if I quit my job or get laid off, I no longer have that life insurance policy. But I will always have the one my parents got for me when I was little. That policy has grown into a sizeable amount and as an adult, if I so wished, I could borrow from it. So, don't look at getting a life insurance policy for your children as something sad and morbid, but something smart that you are doing for them for their adult financial future.
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