Newborn and Children's Life Insurance
We never like to see a news report or hear of a newborn or child dying in an unanticipated accident. In fact, I don't like writing this article, but death of a child does happen and you need to protect yourself in the event of unforeseen consequences.
What are the Unforeseen Consequences?
When researching this piece I came across an article by Stacey Bradford of Moneywatch in an article titles "Nesting: Don't Buy Life Insurance for Your Baby". In the article she references the fact that life insurance is not needed because there is no child income needed to support the family at the time of loss. I understand that there is no income from the child, but what about the time needed to grieve? What about medical bills associated with illness, injury, or death. After the loss of a child, the parents will need time away from their job to start the grieving process and most employers don't provide income for a grieving parent. I'm not advocating a million dollar life insurance policy, but a small $25,000 to $50,000 will help with the family's financials while they try to move on from the devastating loss.
Real Life Situation from a Parents Point of View: Written by Krystal Jackson, mother of a newborn born with cancer.
No parent wants to hear their child has cancer. Hopefully, the parent has obtained life insurance and the worry of medical bills and burial is one less thing to consider. What if your child is born with cancer and you are not afforded that option? That is what happened to my family. The day after my son was born we learned he had a brain tumor the size of a baseball. Two weeks later, a surgery, and a biopsy we learned our newborn had a very rare, yet aggressive cancer and the odds of survival were very bleak. Our medical bills were mounding alongside the stress of our circumstances. As we went through treatment I was often frustrated that I never had an opportunity to buy life insurance for him. It was literally never available since his life started with a death sentence. Thanks to St. Jude Children's Research Hospital, and a research program he qualified, for he is a year and half old and still with us, although the fear of the cancer coming back never goes away. Due to his diagnosis I still cannot purchase life insurance for him.
Every parent I meet I encourage them to purchase life insurance for their child. You never know when your life could be turned upside down with devastating news of a diagnosis or a horrible accident. With the right life insurance, the stress of burial costs and paying medical bills is one less thing to worry about. Don't wait until it is too late to protect your children and family.
Benefits of Children's Life Insurance
Death Benefit - The proceeds (for the lack of a better term) will help your family to cover final expenses, lost of income during the grieving process, and any uninsured medical bills for the treatment of your child.
Future Insurability - Buying children's life insurance at a young health age is a way to make sure your child is covered in case of a tragic disability or illness later in life. Most cases, if your child is diagnosed with an illness it will be impossible to purchase life insurance in the future.
Cost - Children's life insurance is a very affordable way of protecting your family. Costs are as little as $7 per month.
Purchasing the right children's life insurance doesn't have to be a painstaking ordeal. You just have to work with the right florida children's life insurance advisor. Our agents at Barbee Jackson Insurance are highly educated in the world Florida Life Insurance and work to provide you the coverage you need at an affordable price. Call or fill out the contact me box above and one of our expert florida life insurance agents will call you to discuss coverage options. Don't wait until until it's too late.