Insuring Kids for the Future.

[Cornelius]

On MSNBC Rev. AL Sharpton is doing a segment on the First Lady and her program on child obesity. It's said 1 out of 3 children are obese or over weight. So why is it we don't hear the insurance industry taking on this issue at least to the point of getting insured early to secure something for the future.

Overweight in Children

 

[moonlightandmargaritas]

So why is it we don't hear the insurance industry taking on this issue at least to the point of getting insured early to secure something for the future.

Probably because mortality risk in juveniles is miniscule - as are the chances they will become uninsurable. Better to use the money to make sure the parent(s) are well-insured. Cover Junior with a kiddie rider.

 

[Integrus Financial]

That's an excellent point Cornelius.

 

[pfg1]

That's an excellent point Cornelius.

I agree. I have several family friends whose kids are under 12 and already quite obese. I know for some its hereditary, but others not so much.


I totally agree with M&M that the parents definitely need to be covered...and most aren't adequately, unfortunately.

But if they are, setting up max funded PLI policies on their kids can be awesome. And they get approved very quickly most of the time. I have plenty of clients that have kids/grandkids that they have set up policies for. Sure beats a savings acct.

 

[Cornelius]

I was at a family members HS Senior function yesterday and just noticed how many students were carrying extra pounds. It was quite a bit of them. If they are looking at weight issues now I can't imagine what it's going to be like as a whole when the kids of the fast food generation get serious about the purchase of life insurance.

I wonder if at some point there will be a major pricing correction due to the potential of so many having weight issues and what comes along with it.

 

[LGilmore]

"So why is it we don't hear the insurance industry taking on this issue at least to the point of getting insured early to secure something for the future."

The industry doesn't say a lot because the blowback would be tremendous. Parents don't want to hear their kids aren't gifted in every way. Showing them facts just makes them counter with feelings...

Usually with kids policies I use whole life with a GIO rider.

The GIO rider simply takes away the insurance carrier's ability to say "no" later on, which is a positive for those gifted kids.