Why should you have your children insured?

I found this great article written by Jim Ruta in The Insurance and Investment Journal, the September 2010 Issue.  Pg. 44. Have a quick read, I truly think that it is worth your while to be aware of this!

"There are many great reasons why insurance on children is an excellent idea.  Profitting from their untimely demise is not one of them.  Ask your self: " What impact would the death of a child have on you family's lifestyle? How long would it take your family to overcome the loss?"  My guess is: significant and long.

     I bought life insurance on all three of my children.  My concern was the financial loss we would suffer if their mother and I had to recover from the excruciating loss of a child.  How long do  you suppose it would be before we could get back to work? Where would the income to carry on come from? Bills and obligations don't stop when people do.  Imagine the emotional stress.
Children's insurance is very much a family lifestyle protection thing.  It is not a "death benefit" thing. 
     You insure your child because you want to be able to withstand the unspeakable pain of that terrible loss. You want the financial backup to grieve in your own time and recover as a family.  You take away some of the terror from the most terrible of days.
     On a positive note, you are buying an adult's policy at children's prices.  Your child can have good future security when it is usually the easiest to buy.  Add a guaranteed insurability rider and you also ensure that their policy can mature as they do.  Give them a start in life that they could not replace at the price, or maybe at all.

     I've also been convinced of the long term savings value of whole life insurance .  That whole life policy bought as a baby truly becomes a valuable asset when that "baby" graduates from college.  I didn't believe it but it does.  Today, the guaranteed cash in my whole life policy is my largest unregistered cash asset.  No universal life contract compares.  You can do the same for your child or granchild.

    There's another reason to buy.  Grandparents can give their grandchild a gift that will long outlast them.  It's a little bit of immortality that makes everyone feel good. "
                                                                         -Jim Ruta, Corner Office Advise


If you would like more information on children's life insurance products from a licensed life agent contact us...ph: 403.331.4567 or go to our website: http://www.integrabenefits.ca/