Would you be mad if your in laws or your parents took out a life insurance policy on your child?

Question

should grandparents be allowed to?

Answer 1

I wouldn't have a problem with it. My husband's grandmother did it for him, and my grandfather did it for all of his grandkids. My parents are talking about doing it for our baby when he/she gets here. I think it's very kind, as long as they don't name themselves as sole beneficiary, then start doing suspicious things around your child.

Answer 2

They are grandparents and the older we all get, the more we think about stuff like that....it really is important!  I think I would question the intent behind it.  Most of the time, children's policies are very inexspensive and not much of a payout....it's just the thought for older people to 'be prepared'!  I think both sets of grandparents have policies for both of my children.....not something I choose to make a big ordeal about...we have to pick and choose our battles with parents/in laws!!!  LOL

Answer 3

NO WAY.THEY HAVE NO RIGHT TO

Answer 4

This should be done by the parents of the child. Grandparents are allowed to take life insurance for their grandchildrens. Especially when the grantparent is a working person and the company provides these facilities. Very rarely, if a child doesn't have parents or left with no parents during some life circumstances then grandparents take all the responsibilities for the child.

But still i think this is completely your part and you should take care of your child as well as all the rest of the important things that are related to your kid.

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Answer 5

My mom got Gerber life insurance for both my kids. It's a rather weird gift I guess but on the other hand it's cheaper to get it when they are young. When you get older and start to think of that kind of stuff (55-65?) the premium is so much it isn't funny.

Answer 6

OF COURSE!!!

It is very common for grandparents to buy a policy from Gerber. It is a good investment for the kid, the drandparents are building a fund for the kid, so when the kid turns 18, they can cash it out or transfer it to an adult policy.

My kids have policies from my parents.

Answer 7

It is "called" Life Insurance, but it is really an investment for the child.  It appreciates in value over the years.  They probably intend to gift it to the child when s/he is grown...at age 18 <for college?>  or age 21.

Be thankful that your in laws are thinking long term generosity.

Answer 8

I would be very upset, its not thier right to do so!

Answer 9

Yup I would be mad - why would they do that??  

They should NOT be allowed to.