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Advisor provides an intimate perspective on life coverage for children

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Life Health Professional | 22 Jul 2015, 11:50 AM Agree 0
An advisor whose parents insured him as a kid is sharing his own ambivalence about those controversial life policies.
  • Ray | 22 Jul 2015, 01:17 PM Agree 0
    It is my belief that the last line should be if I ever become uninsurable! I agree that the bread winner needs first priority. Having said that, I also believe that with the onslaught of many situations, health and lifestyle, that can contribute to young people being unsinsurable, it is wise to get some insurance inforce, even the least expensive, as long and insurability is protected. Term rates have come down so much that it becomes a very inexpensive investment that can deplete the risk of not qualifying in the future. I say investment, even when I refer to Term Insurance, because it is protecting against a risk of not being able to receive funds when needed.
  • Catherine | 22 Jul 2015, 01:29 PM Agree 0
    I wish my parents had bought a policy on me when I was younger (if there was a guaranteed insurability option rider that would have been good too), because now I am uninsurable.
  • Peter | 22 Jul 2015, 01:53 PM Agree 0
    Most of my clients are middle class. In addition to expenses for the kids, mortgage, cars, clothing, groceries and other basic living expenses there is not much (if anything) left over at the end of every month.
    While I do not minimize the importance of buying a life insurance policy (with gteed insurability), is it not much more important and prudent to buy adequate life insurance for both spouses, followed by disability insurance and critical insurance for both spouses?
    Add a child rider instead onto one of the parent's policy. Most are convertible to age 20 or so.
  • Sarah Richter | 22 Jul 2015, 02:28 PM Agree 0
    As a former Advisor and now training manager for advisors I share my story and how important juvenile life insurance was for my children. One of my children developed a significant illness and having the right juvenile policy in place has secured his ability as an adult and "breadwinner" to provide the security for his future family -something that would not have been possible if he did not have that juvenile policy to build on.
    When I talk about juvenile insurance it is all about the ability to be insured and the cost of being uninsurable in the future.
  • | 29 Jul 2015, 07:01 PM Agree 0
    The title and some of the article is very misleading.

    The author of the article in question is NOT an advisor of any type. He doesn't even work in the financial sector. He's a consumer who writes a blog on financial affairs from his personal perspective.
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