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Article: Kids Don't Need Life Insurance.
- Article from:
- Kiplinger's Ask Kim Web Column
- Article date:
- February 12, 2003
CopyrightCOPYRIGHT 2003 The Kiplinger Washington Editors, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline:Kimberly Lankford, Kiplinger Washington Editors
My daughter's insurance agent talked her into purchasing a $50,000 life insurance policy on her healthy 5-year-old daughter. I am appalled. The agent said it was a good investment in case the child develops a disease later on and wouldn't be able to buy life insurance. The premium is $15 per month. What is your take on life insurance for children?
I'd start looking around for a new insurance agent. Very, very few children need life insurance. And the fact that it was sold as an "investment" is even more galling. You only need life insurance if someone is depending on you financially, which doesn't ...