Child Life Insurance


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I have a client that wants to cover her 11 year old daughter with a term or whole life policy. I have never wrote a policy on just a kid, just riders. Im with AIG and Genworth and need to find something to get the daughter covered on?
Many companies will go up to 500k without any paramed for an under 16-18, but you need to justify the amount, the larger it gets. Both of those companies will have comparable plans that would work.
Well I would assume that you would write the child up and make the parent the owner of the policy. Got to justify as to why the coverage for a minor.
A lot of companies have simplified issue whole life policies for children usually with face amounts of $10,000 or $20,000.

Also, can consider writing a Universal life for face amounts of $25,000 to $50,000.

There are a number of reasons to insure the life of a child; burial costs, replacement income for the parents while unable to work because of the grief of losing a child or paying for another child's college education or just a few of the reasons to insure the child.