Can a child with autism be covered for term life insurance?

Question

he is taking therapy for autism.

Answer 1

I was hoping someone with specific experience would step in.  I've gotten kids with Down's syndrome covered, but the company was only willing to do it on a permanent life chassis (not term) and I think it was a table 3-4 offer (standard rates plus 150 - 200%).  

It would really depend on the type and severity of your son's autism.  From a planning perspective, you might be more warranted thinking about his well-being after you are gone than your financial loss if he passes away.  Talk with a fee-only financial planner or an attorney about setting up a special needs trust and perhaps funding it with a second-to-die life policy.

Answer 2

Well, there's no law against it, but I don't know of any companies that will give you a policy.

You're better off just saving for the potential funeral.

Answer 3

my son is covered on a rider plan that we have on our life insurance. i think he is covered for about $7000.00. the insurance did not have a problem with his autism. people with autism have a normal life span.

Answer 4

Who is dependant on your child's income?  Insurance is designed to support the family of an income earner who dies suddenly.

Funeral expenses are not an uncertainty.  They are certain and don't need to be insured against.  Just save up for it.

Answer 5

Individual coverage will be hard to obtain. I would suggest you check with your employer sometimes they offer life coverage you can purchase for your spouse and children.