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Article: DO CHILDREN NEED LIFE INSURANCE?(BUSINESS)

Article from:
Rocky Mountain News (Denver, CO)
Article date:
February 18, 1996
Copyright

Byline: VANESSA O'CONNELL THE WALL STREET JOURNAL

Does it make sense to own life insurance on a child?

Millions of parents apparently think so.

So-called juvenile policies are a huge business for the insurance industry. One in every four cash-value insurance policies sold each year covers the lives of children under age 18, according to Limra International, a Windsor, Conn., life-insurance research firm. Cash-value policies, such as whole life and universal life, combine a death benefit with a tax-favored savings account.

But the decision to insure a child's life is a controversial one. If life insurance is meant to be used to protect ...

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