Benefits of Life Insurance for Your Child

January 9, 2018

life insurance child

Most people think of purchasing life insurance for themselves as a way to make sure their family is protected financially should the unexpected happen. Because of this, people often overlook the idea of buying life insurance for their children, because a.) Why would my kids need this? They're young and healthy. b.) The topic quite frankly makes people uncomfortable.

However, purchasing life insurance for your children at a young age could do them a huge favor in the long run.

People too often realize the need for life insurance when their health has already declined, making it difficult or nearly impossible to purchase. By seeking life insurance when you're perfectly healthy, you can lock in an affordable rate that doesn't change, even if your health declines. You're never as healthy as you are when you're young, so you could lock in a great rate for your child that he or she may not be able to obtain down the road.

Another benefit is that the purchase of a whole life insurance policy could build cash value over the entirety of your child’s lifetime, so the earlier you start the better. That’s money your child could one day use to pay for things like college tuition, a down payment on a home, or a wedding if the need arises.

Buying life insurance for a child is about more than just insuring your child’s life. It's a financial decision that could benefit him or her down the road in many ways. To learn more about life insurance options for your family with Farm Bureau Insurance of Tennessee, find and contact your local office by visiting

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