Quote:
Originally Posted by LenaGardner
I was told that insuring your kids is a bad idea...if something happens, you're not losing an income, and that companies make a ton of money off of kids' life insurance policies. (this info came from my personal finance class I took in college). I always took my professor at his word as what he said made sense, and never really considered getting policies on our kids.
That being said, I do have one now; however, it is through my work and covers all 3 kids for 16 cents a month. If it weren't so incredibly inexpensive I would have declined.
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Exactly, insurance for kids really only pays for the funeral anyways... it's not meant to give you a bunch of money if they die. I just have it because it was a free rider on our policy, and really it's WAY more important that you insure yourself than your child.