If you live near Ponte Vedra Beach, FL, our team at Palm Valley Insurance Inc. can help you find the right insurance for your family, including kids. But why buy life insurance for your child?

Should You Buy Life Insurance for Your Child?

It may seem unthinkable to buy life insurance for a child. After all, life insurance benefits are paid upon the death of the insured, and children die less often than their parents. But sometimes the unthinkable does happen. If your child dies, the payment from a life insurance policy could cover their burial expenses.

Those buying life insurance for a child often opt for a whole life policy. Whole life policies have cash value and a guaranteed growth rate. But if you already have a life insurance policy for yourself, you can also insure your child by adding a child term life insurance rider to your policy, at an additional cost. If the child dies before you, the insurance company will pay the death benefit.

Call Us for an Appointment

When you buy insurance, you will find yourself choosing between whole life, term life, and a universal policy. Our team at Palm Valley Insurance Inc. can explain the differences and help you choose the right policy. Call us. We’re currently serving Ponte Vedra Beach, FL.