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The Curious Bag
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<h4 class="dechead">On One Hand: It is an Investment in a Child's Future
Some experts recommend buying life insurance for children before any illness or disability crops up that could keep them from buying life insurance in the future. Others believe buying life insurance that builds cash value is a smart move when it comes to paying for college or a future home. Life insurance is not taxed and is not considered a "high-risk" investment.
On the Other: It May Not Make Sense for Everyone
Other experts say there are other ways to invest for a child's future that are better than buying a life insurance policy and investing in something that is not likely to happen (illness that causes a person to be denied life insurance) is not a smart move. Some argue that because life insurance is most commonly bought to replace a loss of income due to death, it does not make sense that a child should have a policy.
Bottom Line
Whether or not a person chooses to buy life insurance for a child, it is wise to shop around for the best rates and the highest amount of profit. In order for sizable money to accrue by adulthood, a person will have to purchase a large amount of life insurance for children.
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