It’s a sensitive subject and not one that most people don’t like to think about, but there are benefits to adding children’s term insurance to your life insurance policy. Although no parent wants to think about the death of a child, making sure your children have life insurance is just as important as covering yourself. It is as simple as adding a rider to your life insurance policy, and is an affordable option.
Purchasing a children’s term insurance rider has benefits for your child because you purchase it before he or she is 17. Your child is covered until age 25, and oftentimes can covert that into an individual policy later on. Your child then has a policy of his or her own to carry into adulthood. By purchasing an affordable rider on your life insurance you’re creating a gift that lasts your child a lifetime.
The children’s term insurance rider, available on whole life, term life insurance and critical illness insurance policies can give your family the peace of mind you need in case a tragedy should happen. No family wants to plan for the death of a child, but the reality is it happens and it is devastating to their families. Although there typically is no lost income to be replaced, a children’s term insurance rider helps meet final expenses and allow you to take the time off from work you need to grieve. Without the insurance in place there may not be funds available to take the time off without losing income. Parents need to be able to support each other and get the support of other family members after a devastating loss, and the children’s term life insurance rider allows the flexibility to be able to take an extended leave to do that.
Purchasing life insurance for ourselves is something we do because we know it’s necessary. We can give our children peace of mind by adding the children’s term insurance rider.
Call your AC Financial Adviser at (877) 435-2283 to make sure you have a children’s term insurance rider on your life insurance policy.