Life insurance for 18 year old?

Question

My daughter will be 18 this year & she wants to know if she needs life insurance. She lives at home with us,is in 6th form at school (UK) & has no responsibilites like mortgage etc.She has a Saturday job so does work. It doesn't sound like she does, but my husband & I are not sure. Any advice?

Thanks.

Answer 1

If it is possible to get something like a 20 or 30 year term for a decent amount, per month, it will keep the premium low for a long period of time, and she will not have to try and get insurance later on when she gets a family and things of that nature to take care of....not to mention if she somehow did develop health problems, she wouldn't have to qualify. But it's certainly not necessary. If anything, tell her to start investing in her retirement.

Answer 2

If you can afford to pay for her funeral (if she dies) and she is not pregnant, she does not need life insurance.

If you cannot afford to pay for her funeral (if she dies) and she is not pregnant, she needs a very small amount of life insurance to pay for her funeral (if she dies).

If she is pregnant, she needs a very large amount of life insurance to pay for the baby's education, housing, etc., if she dies in childbirth.

Answer 3

I am an Insurance agent. Life Insurance can be very beneficial even to those who may not seem like they need it. If chosen the right policy a policy can build cash value as time goes on.

What this means is if she gets it now then by the time she is 25y.o. or 30. she may have cash value she can take out as she pleases as if it was her own money, because technicly it is.

Another benefit is the relesionship she will build with her insurance company, this protects her against cancellations or non-eligability due to medical reasons.

Get Life Insurance asap. The sooner the better.

Answer 4

it would be good but no she doesnt need it

Answer 5

If your daughters life were cut short by a sudden death, what would she leave behind to plan her funeral and pay her burial expenses? A life insurance policy can cover her final expenses and make sure you have no worries. Life insurance can also be used to leave a legacy.  There's so much you can do. It's hard losing someone you love, especially when it is unexpected. No one can ever be fully prepared to deal with the feelings of grief, anger, sadness, and fear that follow such a separation and few are fully prepared to face life once again. The last thing you want to do at such a time is think of your insurance needs, but it's an important issue that you can't afford to overlook. You can Save Yourself From Added Loss by encouraging your daughter to contact a local independent agent to purchase  life insurance to suit HER particular needs now to guarantee that no matter what her health situation may be at age 20, 24, 30, etc. she is guaranteeing her future insurability. Hope this helps you make your decision. Best wishes to you and your family.