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Life Insurance for Baby
Life Insurance for Kids?Some claim that life insurance for a child is a good idea because life insurance for kids is a wonderful investment since the policy money builds up free of income taxes and you can borrow against the policy's cash value.
Others say life insurance for kids is not such a great idea in case your child has health problems later on; making it hard to insure him or her.
However, according to Walter Updegrave, CNN/Money contributing columnist, the main reason take out a life insurance policy is to replace that person's income should he or she die. Therefore, unless you know for a fact your infant will earn money that the family will depend on-then there is no reason for child life insurance.
So what's a better alternative for child life insurance? Instead of purchasing life insurance for a child, save for college! You'd be doing your child a much better service if you invested in a 529 college savings plan, or a Coverdell Account, recommends Updegrave.
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12/7/2005 10:18:37 AM
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| American Baby |
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America's most respected ''helping hand'' for new and expectant parents for over 60 years!
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| Gerber Life |
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Get your baby 3 MONTHS OF LIFE INSURANCE-FREE! Upon approval, this $2,000 Gerber Life insurance will be paid for by Baby To Bee at NO COST TO YOU. You will also receive the Gerber Life Family Times newsletter and product offers by mail and/or email (Gerber Life does not share your information). Start planning for your child's future today.
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