Readers Respond: Toddler Life Insurance

We welcome your opinions. These are some comments/ideas that readers wanted to share. Link to original article here.

Don't Pass It Up!

I am an absolute believer in life insurance for children. My perfectly healthy 19-year-old daughter contracted Hepatitis C from tainted ink. She had made sure the needle was new, but didn't think about the ink. I had recently decided not to get life insurance for her which was $129 a year because I thought I couldn't afford it. Now, that same insurance cost $769 a year! So getting one of those Gerber policies I think is a good idea. It is whole life, which means you can take the cash value out at any time, it doubles at age 21, and if something happens to your child to make them uninsurable, at least there is something in the event of their death to pay for funeral expenses and help out with missed work.

Also, my son-in-law's parents bought him a small child's policy when he was a baby. When he was 18, he was diagnosed with a blood clotting disorder, had a stroke, and was uninsurable. Because of that child's policy, he has $50,000 worth of life insurance for his wife and kids in case anything happens to him.

Because of my daughter mentioned in paragraph one, I bought life insurance on my two youngest sons too to maintain their insurability in case they did something stupid. One of those sons died unexpectedly when he was 19, and the insurance paid for his funeral and the missed work as a substitute teacher that I could no longer do because I had found out something terrible had happened while I was teaching. As a result, I had a real phobia about going back to school because of the emotional trauma that began there. Several months later I was able to go back even though I had crying jags whenever a student reminded me of my son.

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