Why do parents get life insurance on their children?

Question

blonde--certainly children have lives too, but seeing as how life insurance on a child doesn't insure that they keep life, i don't understand the offensive tone of your answer. yeesh. a dumb answer at that.

Answer 1

To cover burial and funeral expenses (which can be $10,000+).

Answer 2

Top ensure that the kids can have life insurance when they are older.

Answer 3

y do u think?????????? CHILDREN HAVE LIVES TOO!

Answer 4

For one, at an early stage of age the cost is really reasonable. Thsn, when the policy has aged, they can borrow money on the policy, or take the cash value if money is needed. It is really a smart thing to do. Its like money in the bank.

Answer 5

Their parents get suckered into them by salespeople telling them what a great deal it is and a good investment to boot - not.

Answer 6

Well, MY parents bought it on us, because they were scared into it - they were told they had to, when we were infants, or if we developed a horrible childhood disease, we would be uninsurable as adults.  

Most parents get "sold" the policy, with promises of savings or cash value.  

**It's not exactly money in the bank.  It's like depositing $100, and having $10 when you go to withdraw it.  It's banking for people who are bad at math.**

Answer 7

usually, parents take out a small inexpensive life insurance policy to have money to provide the child a funeral should the child die.  Funerals for children are almost as expensive as one's for adults, so this is more a precautionary measure than anything else.

Answer 8

There are many reasons why this can be a good move.  Someone recently asked me about  this and I ran across a blog article called Why Life Insurance for Kids Isn’t Always a Bad Idea about this very subject not long ago at http://justshootmenow.wordpress.com/2008...

To me it's a great way to get a program started that can stay with them throughout their lifetime.  Being able to ensure insurability - which means that even if the child develops an illness that would make him uninsurable later they can still buy more insurance - is a great selling point, IMO.

Lots of kids develop asthma, and diabetes is rampant in our society.  I don't think it's  a bad move at all.

I wish my parents had bought one for me!

Answer 9

As much as they put you through if they die you deserve a vacation!!

Answer 10

Suppose your child gets seriously ill, and dies. In addition to the grief and a broken heart, you get left with tens or hundreds of thousands of dollars of medical expenses (even if you have health insurance) and another ten thousand in funeral expenses.