Just step back a moment to get some perspective and think about what is being said here. If I arrange to receive a large amount of Telephone Number List money when my child dies, this means I really love the child? Imagine that you go home after buying insurance on your 5 year-old daughter with a large death benefit. You say, "Honey, I did something really Telephone Number List special and loving for you today." "Really, Daddy? What did you do?" "I bought a life Telephone Number List insurance policy on you." "What is that, Daddy?" "If you die, I get $50,000."
The transfer of wealth that would occur from paying the premiums on a whole life policy with a high death benefit amount would perhaps Telephone Number List come to at least one hundred thousand dollars. The money paid in premiums over all the years to adulthood would grow into this if invested instead in an aggressive growth stock fund. This is money I Telephone Number List could bless the child's life with. If I take just a small policy of perhaps $10,000 on each child, I am planning on Telephone Number List dealing with this contingency, but I am also planning on doing the best I can for this child by building up more money to bless this child with. I am investing in the life of my child instead of investing in my best interests, if the child passes away. I am planning on doing the best I can for Telephone Number List this child by building up more money to bless this child with. I am also, at the same time, prepared for this contingency.
The issue that is frequently raised, when you discuss insurance on children, is insurability. You should get whole life with a high death Telephone Number List benefit, it is argued, so your children will have insurance when they grow up, even if they have a disqualifying medical problem. If you wait until they are older, they may not be insurable. The percentage Telephone Number List of people who are insurable in their early twenties, is in the upper nineties. It varies somewhat over the years, but runs from 97% to 99% when the statistics on this are Telephone Number List checked. Still, it is argued, what if the child is in that tiny group that cannot be insured?