The cost of
child rearing is rising exponentially every year. If you chart out the
expenses, you will be surprised at how expensive children are. From food, to
education to their leisure activities and clothing. As much as it is true that
as a parent you have always been careful and concerned about giving your child
only the best –it is also true that raising a child can put strain on family
New parents with
a very young family need to be aware of all the benefits that a life insurance
brings to you.
cash value can be accessed for your child in the future for such things as
college tuition or the down payment on a home – the child receives amounts on a
regular period, this way we can ensure that the needs of the children are taken
plan offers a lump-sum payment on the death of the parent, but the policy does
not end. All future premiums are waived and the insurance company continues
investing this money on behalf of the parent.
God forbid, your
child develops a disability or chronic illness later in life, making it hard if
not impossible to get life insurance when it's needed the most –is probably the
biggest fright you’ll face as a parent. Buying permanent life insurance for
your child can help ensure the availability of coverage later in life.
insurance when the child is younger can cut the cost significantly.
Another of the
most important feature that a child insurance gives is that it helps parents
have a strict format into saving for their children’s future. A child insurance
plan enforces a sense of discipline. Just the fact that you need to save a
small amount every year for your son or daughter’s wellbeing can be quite
economy it is not important to be financially sufficient for the present – it
is also important that you are prepared for the future.
WRITTEN BY: BALAKARTHIGA.M