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Why is there life insurance for children?

Placing a life insurance policy on a child can make some people a little unconfortable. The thought of a child passing is often too hard for parents or grand-parents to bear.

However, most life insurance policies bought on the lives of children are not purchased as a means of providing financial relief in the event a child passes. Instead whole and universal life insurance policies are bought as presents for children.

These life insurance policies become tools for the child later in life. It may take 20 years for the child to see the benefit of the present but these children are often rewarded quite well for the investment made in life insurance.

Watch this video “Why is there life insurance for children?” for more details:

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This is video #22 of a one hundred insurance video series that The Murray Group is producing to provide insurance consumers with quick, valuable answers to their everyday insurance questions.

If you have additional questions regarding the appropriate amount of life insurance or if you would like to discuss and receive a quote for a life insurance policy use the link below:

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Disclaimer: This article is for informational purposely only. There is no legal advice being suggested or proffered and the author assumes no responsibility or liability for the actions taken or not taken by the readers based upon such information.

created by Ryan Hanley