I purchased a 75k whole life policy on each of my kids. I wanted to ensure coverage for them now and in the future. If one of them happens to pass while they are young, I am not sure how long it would take me to get back to normal life, so it is there to protect me as well. Not really any different than why I have coverage in place to protect them if I go. Plus it is cheap.
Whole Life for Child ?
- Thread starter Guest
- Start date
-
- Tags
- whole life
- 15,041
I have been watching Inside Combat Rescue on NatGeo.
Some scary stuff. But fortunately, most of those kids are coming back home alive. However, most are not going to be getting life insurance any time soon, if ever. They still may have families that depend on them financially and their parents may spend thousands and thousands to care for them. Life insurance is very appropriate to help pay for those needs.
Watch one episode if you can. They really are kids, PJs are almost exclusively enlisted and except for the senior NCOs, most look to be 22 tops. While it is their job, what they do is truly amazing.
Some scary stuff. But fortunately, most of those kids are coming back home alive. However, most are not going to be getting life insurance any time soon, if ever. They still may have families that depend on them financially and their parents may spend thousands and thousands to care for them. Life insurance is very appropriate to help pay for those needs.
Watch one episode if you can. They really are kids, PJs are almost exclusively enlisted and except for the senior NCOs, most look to be 22 tops. While it is their job, what they do is truly amazing.
Paying around a hundred dollars a month ( what I have seen thus far on these boards for the most part) for a child since they are little, will turn into a pretty penny when they are 18 or so.. So why not invest that money in a fund, let them use it for what they want? It's VERY rare for an average 20 something to be unable to get life insurance. Even with health issues.
Needing 100,000 dollars for a child dying just doesn't make sense to me.. it's my opinion, and if you say you need it to "cover time off from work" .. unless you make 50,000 a month, it doesn't make sense, b/c I think that after a month or two you probably won't have a job anymore being gone that long.
And doesn't it cost more to raise a kid than to bury one? Not to sound crass, but soley financially speaking
- - - - - - - - - - - - - - - - - -
And we are talking about life insurance on Children (under 18) in this board, not emancipated, or adults in the military. So an 18 year old in the military really isn't relevant.
- - - - - - - - - - - - - - - - - -
Needing 100,000 dollars for a child dying just doesn't make sense to me.. it's my opinion, and if you say you need it to "cover time off from work" .. unless you make 50,000 a month, it doesn't make sense, b/c I think that after a month or two you probably won't have a job anymore being gone that long.
And doesn't it cost more to raise a kid than to bury one? Not to sound crass, but soley financially speaking
- - - - - - - - - - - - - - - - - -
And we are talking about life insurance on Children (under 18) in this board, not emancipated, or adults in the military. So an 18 year old in the military really isn't relevant.
- - - - - - - - - - - - - - - - - -
Last edited:
- 25,037
OK, I had to take a deep breath before answering this.
I keep typing and deleting what I type.
I have two in cammies right now. And a third that is a Marine pulley. Unless I can talk him out of it, it will be three. Take my arms and my legs, not my sons.
I am just going to assume you truly do not understand. It is about insuring their future insurability.
- - - - - - - - - - - - - - - - - -
Last edited:
- 15,041
I know you just got your license and mean well, so I'll try to be nice.
What you don't know that you don't know is scary.
The VA doesn't pay for everything. That vet still has to be cared for at home by someone, that means someone can't work. Someone has to run that vet to appointments for care, surgeries, etc. That vehicle doesn't buy itself, the gas doesn't magically appear in the car and it all requires time.
Financially, the worse thing in the world is to be disabled. When you die, the bills stop. When you are disabled, they keep on coming and new ones get added on.
On one hand, that person choose to enlist and knew the dangers going in. That was the price of the paycheck. On the other hand, that is a real person who really is suffering and so is his or her family. Don't be so quick to causally dismiss their family's desire to protect themselves from the financial downsides of what may happen.
- 125
child may become uninsurable, and the premiums will be DRAMATICALLY lower than waiting until they are say 50 years old. Plus there is some great plans out there. Find a nice 21 pay, company im with has a 21 pay, fully paid up after 21 years (they dont have to pay anymore premiums) and it gains 5% face amount value each year. So 20 years later a $20k policy is a 40K policy and the year after that there is no more premiums, and it still builds cash value!
- Thread starter
- #17
G
Guest
Guest
Ok guys, I appreciate your varied opinions. I think the majority opinion is buying insurance for a child is for insurability in the long run in case some unforeseen tragic strikes. Did I read that correctly?
Sunny, you have to ask yourself a few questions here. Mainly, what kind of financial burden would it put on a family to bury their child? First, the funeral will cost money. If you lose a kid, you're probably going to be taking some time off from work, right? Can you think of any more expenses that a parent might incur during this whole process? Put yourself in their shoes if you can. I'll bet you come up with at least a few more.
If you can, try to find someone that has gone through this, talk with them and I promise, you'll never ask that question again!
- 4,132
SunnY? You're either brand new or a troll.
"I am just going to assume you truly do not understand"
That was a nice way both Wino and Vol have addressed you...
Now it's my turn... Stop being such a dumb a ss! Cause in reading your posts the name dumb a ss just seems to fit.
Do you have kids? A wife maybe? Kinda think either your home life wasn't that great or you're just so young and truly unaware.
What do you value in life. Are you married? Do you value it?
Do you have kids? Do you value them? Or are in the you can always make more mindset, you know, like puppies?
I guess the best way to explain this concept is how an old guy who never was in the business put it to me at a county fair about 24 years ago.
He started out with "You know, I never had high thoughts for you insurance guys.."
"but"
"last year in our church a young couple lost their young child and were devistated. It had happened before over the years and it seemed the couple never stayed together, that lots of guilt entered and broke up the marriages."
"In this case, they had life insurance on the child and were able to have a nice service and memmorial for their child. They were able to grieve and not fall behind financially. They were able to get the monument the wife wanted for their child. They're still together and it looks like they will stay together.. yup never had much use for you insurance people. Never thought you did much good. That changed my mind a bit.."
I'm going to assume you're not married or just learning still.
There are some things in life you can tell you wife "no" and she'll get over it and life goes on... Try telling your wife "no" over furneral arrangements for your child....
Again this all depends on what you value, If what I just posted makes no sense to you, well Ok, we don't have to share the same values to work this business. What that old guy said to me 24 years ago made perfect sense and he wasn't in the business or part of a sales track. Just an old guy who made an observation.
"I am just going to assume you truly do not understand"
That was a nice way both Wino and Vol have addressed you...
Now it's my turn... Stop being such a dumb a ss! Cause in reading your posts the name dumb a ss just seems to fit.
Do you have kids? A wife maybe? Kinda think either your home life wasn't that great or you're just so young and truly unaware.
What do you value in life. Are you married? Do you value it?
Do you have kids? Do you value them? Or are in the you can always make more mindset, you know, like puppies?
I guess the best way to explain this concept is how an old guy who never was in the business put it to me at a county fair about 24 years ago.
He started out with "You know, I never had high thoughts for you insurance guys.."
"but"
"last year in our church a young couple lost their young child and were devistated. It had happened before over the years and it seemed the couple never stayed together, that lots of guilt entered and broke up the marriages."
"In this case, they had life insurance on the child and were able to have a nice service and memmorial for their child. They were able to grieve and not fall behind financially. They were able to get the monument the wife wanted for their child. They're still together and it looks like they will stay together.. yup never had much use for you insurance people. Never thought you did much good. That changed my mind a bit.."
I'm going to assume you're not married or just learning still.
There are some things in life you can tell you wife "no" and she'll get over it and life goes on... Try telling your wife "no" over furneral arrangements for your child....
Again this all depends on what you value, If what I just posted makes no sense to you, well Ok, we don't have to share the same values to work this business. What that old guy said to me 24 years ago made perfect sense and he wasn't in the business or part of a sales track. Just an old guy who made an observation.
I understand your points, I know it costs money for a funeral. I buried a parent two years ago. I also am not an insurance agent, and both when I lost my father and my family lost our house in the storm, my mother and I strugged for six months till we saw any money from my fathers death (MoO) and got completely denied by the home insurance. So she is stuck paying thousands in taxes for an empty dilapidated house, while the insurance broker tells her "too bad." meanwhile, Silverstein had no problem getting his billion dollar insurance pay out (which he initiated 6 weeks before the attacks) after World Trader Center 7 "collapsed." Sick world with a lot on con artists. Anyway, I am sure my opinion is biased because of this, but I still have my opinion.
I probably came off insensitive, but I just don't agree with the idea. I don't have children, I am in my twenties, and when I get married, my husband and I will be getting life insurance for ourselves before we even think of it for our child.
I feel as though having a child is a burden, it is sopposed to be costly, we know that going in... and it is gonna cost a lot more money to raise a kid till he is 18 or so, than to bury him at 6, god forbid of course, or any young age like that.
- - - - - - - - - - - - - - - - - -
And in response to this person, I am not sure what you are getting at, but if you value something like a ring, yeah you get insurance on it. But a child isn't a possession. And it is invaluable. I really don't know what you mean by "in the make more mindset".. That kind of goes against my creed and any remarks I have made thus far. If I was in the make more mindset, I would have life insurance on all of em and none on myself, and just say heck with it.. now ill have some dough to live off of, and be able to take some time off work to procreate again
I probably came off insensitive, but I just don't agree with the idea. I don't have children, I am in my twenties, and when I get married, my husband and I will be getting life insurance for ourselves before we even think of it for our child.
I feel as though having a child is a burden, it is sopposed to be costly, we know that going in... and it is gonna cost a lot more money to raise a kid till he is 18 or so, than to bury him at 6, god forbid of course, or any young age like that.
- - - - - - - - - - - - - - - - - -
And in response to this person, I am not sure what you are getting at, but if you value something like a ring, yeah you get insurance on it. But a child isn't a possession. And it is invaluable. I really don't know what you mean by "in the make more mindset".. That kind of goes against my creed and any remarks I have made thus far. If I was in the make more mindset, I would have life insurance on all of em and none on myself, and just say heck with it.. now ill have some dough to live off of, and be able to take some time off work to procreate again
Last edited:
Similar threads
