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Do you have life insurance on your child(ren)?

I'm looking to get life insurance on my daughter. I have life insurance on myself (was in the military) so if something happens to me she'll be taken care of for a gooooooooood long while. I don't have any on her and wouldn't know where to begin. What insurance company did you decide to go with and why? What do you think is enough?


Asked by prissysayshi at 12:27 PM on Feb. 7, 2011 in General Parenting

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This question is closed.
Answers (12)
  • We have life insurance on both kids. Not much, $5000 each, the lowest plan offered. A lot isn't necessary since they don't provide any income, but there would still be costs, should something happen. Funeral, burial, lost income... I also like the Gerber plan because it builds cash value, which could help in an emergency. And this way they've got at least that little bit of protection when they're adults, even if something happens that would bar them from getting other insurance, some kind of lasting illness or something.

    Answer by DragonRiderMD at 12:51 PM on Feb. 7, 2011

  • no. yes it would be a terrible loss, but your child is not the bread winner in the family. insurance is to help the surviving parent support the kids. gerber used to advertise for child insurance but they are working on your emotions.

    Answer by robinkane at 12:31 PM on Feb. 7, 2011

  • We have life insurance on our children through my husband's job.

    Answer by misses_nick at 12:29 PM on Feb. 7, 2011

  • We don't. We can't get it for our son. Honestly I have NO idea if we have it for my daughter, but I doubt it

    Answer by Zakysmommy at 12:30 PM on Feb. 7, 2011

  • I agree with Robin, no reason for it. Except it can help with funeral and outstanding medical costs

    Answer by Zakysmommy at 12:37 PM on Feb. 7, 2011

  • We have it for both kids with hubby's job. They aren't playing with your emotions. It's to help with funeral and medical costs not covered by your insurance. It's not an easy thing to think about, but its nice knowing that it's there, just incase.

    Answer by BabyBugsmama at 12:44 PM on Feb. 7, 2011

  • No. From what I've read from every money expert I keep up with (Suze Orman, Clark Howard and Dave Ramsey), it's generally not recommended as long as you have enough in savings to cover the cost of a child's burial - and we do.

    Answer by missanc at 1:22 PM on Feb. 7, 2011

  • All of our kids are insured through my husband's work which is entirely to pay for funeral expenses because otherwise it would bankrupt us.
    My dad also has policies on each kid through Gerber and some other company (don't remember). Those small ones that get turned over to them when they turn 21. He did that on his own and I have no idea what they are worth.

    Answer by justanotherjen at 1:49 PM on Feb. 7, 2011

  • I have a little thru my job for both kids, and it is just there to pay for funeral expenses b/c there is no way we would be able to come up with a lump sum to pay for it.

    Answer by Bubbie0809 at 2:44 PM on Feb. 7, 2011

  • No. No need to.

    Answer by Anonymous at 2:44 PM on Feb. 7, 2011