When should you buy life insurance for your child?

November 28, 2006 at 1:48 am Leave a comment

Never.

Life insurance is not for children. The purpose of life insurance, of all types of insurance, is to transfer risk from us to the insurance company. Life insurance serves one purpose, to replace income if it is essential to daily living. Don’t get sucked into buying life insurance for kids.

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Entry filed under: Insurance, Spending.

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