At what age would you/did you stop paying for life insurance for your children?

Question

At what age would you/did you stop paying for life insurance for your children?

Answer 1

I kept making the payments until such time as they were out of school and had good jobs.

  I simply explained to them what policies we had, what the premium was, and what the benefits would be. I felt I had done my job  and whether they chose to keep the policies in force or cash them in, was their choice.

Answer 2

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Answer 3

I stopped at 18.

Answer 4

Pay it for them until they are 18, and "make it their responsibility" to maintain the important coverage (I can elaborate on the "whys", but I bet you have your own reasons.)  The SOONER and earlier they take on the resposnbility, and appreciate life insurance as a tool (and what it does) the sooner they will grow into their own finacial being.

In the meantime... DON'T LET IT LAPSE!!!

Answer 5

Some children mature sooner than others and you have to know that they will be responsible to pay the premiums and keep the policy in force before turning it over to them.  My children, unfortunately, have never matured and I am still paying for their insurance, because I know they would cancel it if I gave it to them and their families (or me) would suffer if anything were to happen to them.

Answer 6

When our son was born in 1949 we thought of life insurance for him but the agent (New York Life) said no way. If I was to die the child could not work to support his mother and the way to go was to increase the amount of insurance on me, the wage earner.

Answer 7

I NEVER had life insurance on the kids.  The reason for life insurance is to help with expenses if a wage earner dies and leaves the family in trouble.

Insuring the lives of kids is rather senseless, unless there is some oddball reason that the death of a child would cause unexpected financial hardship.

Answer 8

That is entirely up to you. At a certain age, they will assume the position of policyowner, but you may make the premiums as long as you wish. I think I would make the payments until my child was fully employed, and then you can change policyowner designation and have them assume payment of the premiums. This is actually a very simple process, just call your current agent to get the change request signed.

Answer 9

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