{"id":1304,"date":"2018-07-31T07:00:51","date_gmt":"2018-07-31T11:00:51","guid":{"rendered":"https:\/\/lifehappens.org\/?p=1304"},"modified":"2020-04-09T10:38:38","modified_gmt":"2020-04-09T14:38:38","slug":"5-things-to-know-about-getting-life-insurance-for-your-child","status":"publish","type":"post","link":"https:\/\/lifehappens.org\/blog\/5-things-to-know-about-getting-life-insurance-for-your-child\/","title":{"rendered":"5 Things to Know About Getting Life Insurance for Your Child"},"content":{"rendered":"\n\n[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;3.27.4&#8243; fb_built=&#8221;1&#8243; _i=&#8221;0&#8243; _address=&#8221;0&#8243;][et_pb_row _builder_version=&#8221;3.27.4&#8243; _i=&#8221;0&#8243; _address=&#8221;0.0&#8243;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;3.27.4&#8243; _i=&#8221;0&#8243; _address=&#8221;0.0.0&#8243;][et_pb_text _builder_version=&#8221;3.27.4&#8243; hover_enabled=&#8221;0&#8243; _i=&#8221;0&#8243; _address=&#8221;0.0.0.0&#8243;]<p>We spend so much time talking about the reasons adults need <a href=\"https:\/\/www.lifehappens.org\/insurance-overview\/life-insurance\/\" target=\"_blank\" rel=\"noopener noreferrer\">life insurance<\/a> (income protection, covering funeral costs and so on) that it\u2019s easy to forget why it may be a good idea for you to insure your children as well.<\/p>\n<p>When we think about it, we reason that our kids aren\u2019t contributing to the household budget\u2014in fact, anyone with kids knows that raising them takes a lot <em>out<\/em> of that budget! But getting a <a href=\"https:\/\/www.lifehappens.org\/insurance-overview\/permanent-insurance\/\" target=\"_blank\" rel=\"noopener noreferrer\">permanent life insurance policy<\/a> for a child can offer financial advantages for them later in life (in addition to the death benefit).<\/p>\n<p>So before you find yourself caught up in internet debates over how to get your baby to sleep or what kind of diapers to use (or if you\u2019ve already been through that and are dreading the next round of parenting arguments), here are five things to know about buying life insurance for your child:<\/p>\n<p><strong>1. Life insurance policies \u201cgrow up\u201d too. <\/strong>A great reason to invest in juvenile life insurance is to ensure that your children are covered from the get-go, and as they get older, may be able to take advantage of riders that allow them to expand their coverage at a guaranteed rate without any question about their respective health. People\u2019s health changes, including children\u2019s, and having a policy in place can ensure they\u2019ll have the coverage they need, despite health changes.<\/p>\n<p><strong>2. It creates a sensible foundation:<\/strong> While there are tax-advantaged vehicles for saving for retirement and college, that\u2019s not necessarily the case for other major expenses that young adults face such as automobile down payments, weddings and first home purchases. The cash value of a policy can be borrowed from\u2014understanding, of course, that it reduces or eliminates the death benefit if not repaid\u2014for these expenses.<\/p>\n<p><strong>3. Not sold on getting them their own policy?<\/strong> <strong>Add them to yours.<\/strong> Check to see whether easily affordable riders on your own life insurance policy are available to cover the kids.<\/p>\n<p><strong>4. Don\u2019t buy the first policy that crosses your mailbox, either:<\/strong> The same marketing clearinghouses that make sure you get every single updates on your pregnancy week by week are also making your contact information available to firms that market life insurance. Be sure to compare prices, and it\u2019s always helpful to talk to an insurance professional or advisor who can help you navigate through choices before committing to a policy.<\/p>\n<p><strong>5. The safety net is there.<\/strong> We all want to see our kids grow up happy, healthy and strong. But if the worst happens, as was the case for the Koonsman family, (<a href=\"https:\/\/www.lifehappens.org\/videos\/facing-the-unexpected\/\" target=\"_blank\" rel=\"noopener noreferrer\">you can watch their story here<\/a>) then juvenile life insurance can help provide a buffer\u2014covering funeral expenses, sure, but also allowing parents to take time off, care for their other children, and allow everyone to grieve as needed. And as the Koonsman\u2019s story shows, they were also able to keep their daughter Hope\u2019s memory alive by establishing a scholarship in her name.<\/p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]\n\n","protected":false},"excerpt":{"rendered":"<p>We spend so much time talking about the reasons adults need life insurance (income protection, covering funeral costs and so on) that it\u2019s easy to forget why it may be a good idea for you to insure your children as well. When we think about it, we reason that our kids aren\u2019t contributing to the [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":1305,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"2880","footnotes":""},"categories":[135,4],"tags":[139,136,140,34,141,137,138],"class_list":["post-1304","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-juvenile-insurance","category-life-insurance","tag-children","tag-juvenile-life-insurance","tag-koonsman","tag-permanent-life-insurance","tag-real-life-story","tag-rider","tag-safety-net"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>5 Things to Know About Getting Life Insurance for Your Child &#8211; Life Happens<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/lifehappens.org\/blog\/5-things-to-know-about-getting-life-insurance-for-your-child\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"5 Things to Know About Getting Life Insurance for Your Child\" \/>\n<meta property=\"og:description\" content=\"[et_pb_fullwidth_module_placeholder selected_tabs=&quot;all&quot;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/lifehappens.org\/blog\/5-things-to-know-about-getting-life-insurance-for-your-child\/\" \/>\n<meta property=\"og:site_name\" content=\"Life Happens\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/lifehappens.org\" \/>\n<meta property=\"article:published_time\" content=\"2018-07-31T11:00:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-09T14:38:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/lifehappens.org\/wp-content\/uploads\/2019\/12\/Koonsman-blog.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"534\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Helen Mosher\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@lifehappens\" \/>\n<meta name=\"twitter:site\" content=\"@lifehappens\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Helen Mosher\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/lifehappens.org\/blog\/5-things-to-know-about-getting-life-insurance-for-your-child\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/lifehappens.org\/blog\/5-things-to-know-about-getting-life-insurance-for-your-child\/\"},\"author\":{\"name\":\"Helen Mosher\",\"@id\":\"https:\/\/lifehappens.org\/#\/schema\/person\/7c7486e6f86d86fdae3732fd8d6e5463\"},\"headline\":\"5 Things to Know About Getting Life Insurance for Your Child\",\"datePublished\":\"2018-07-31T11:00:51+00:00\",\"dateModified\":\"2020-04-09T14:38:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/lifehappens.org\/blog\/5-things-to-know-about-getting-life-insurance-for-your-child\/\"},\"wordCount\":560,\"publisher\":{\"@id\":\"https:\/\/lifehappens.org\/#organization\"},\"image\":{\"@id\":\"https:\/\/lifehappens.org\/blog\/5-things-to-know-about-getting-life-insurance-for-your-child\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/lifehappens.org\/wp-content\/uploads\/2019\/12\/Koonsman-blog.jpg\",\"keywords\":[\"children\",\"juvenile life insurance\",\"Koonsman\",\"permanent life insurance\",\"Real Life Story\",\"rider\",\"safety net\"],\"articleSection\":[\"Juvenile Insurance\",\"Life Insurance\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/lifehappens.org\/blog\/5-things-to-know-about-getting-life-insurance-for-your-child\/\",\"url\":\"https:\/\/lifehappens.org\/blog\/5-things-to-know-about-getting-life-insurance-for-your-child\/\",\"name\":\"5 Things to Know About Getting Life Insurance for Your Child &#8211; Life Happens\",\"isPartOf\":{\"@id\":\"https:\/\/lifehappens.org\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/lifehappens.org\/blog\/5-things-to-know-about-getting-life-insurance-for-your-child\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/lifehappens.org\/blog\/5-things-to-know-about-getting-life-insurance-for-your-child\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/lifehappens.org\/wp-content\/uploads\/2019\/12\/Koonsman-blog.jpg\",\"datePublished\":\"2018-07-31T11:00:51+00:00\",\"dateModified\":\"2020-04-09T14:38:38+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/lifehappens.org\/blog\/5-things-to-know-about-getting-life-insurance-for-your-child\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/lifehappens.org\/blog\/5-things-to-know-about-getting-life-insurance-for-your-child\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/lifehappens.org\/blog\/5-things-to-know-about-getting-life-insurance-for-your-child\/#primaryimage\",\"url\":\"https:\/\/lifehappens.org\/wp-content\/uploads\/2019\/12\/Koonsman-blog.jpg\",\"contentUrl\":\"https:\/\/lifehappens.org\/wp-content\/uploads\/2019\/12\/Koonsman-blog.jpg\",\"width\":800,\"height\":534},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/lifehappens.org\/blog\/5-things-to-know-about-getting-life-insurance-for-your-child\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/lifehappens.org\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"5 Things to Know About Getting Life Insurance for Your Child\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/lifehappens.org\/#website\",\"url\":\"https:\/\/lifehappens.org\/\",\"name\":\"Life Happens\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/lifehappens.org\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/lifehappens.org\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/lifehappens.org\/#organization\",\"name\":\"Life Happens\",\"url\":\"https:\/\/lifehappens.org\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/lifehappens.org\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/lifehappens.org\/wp-content\/uploads\/2021\/06\/logo_LifeHappens_primary_horizontal_color_SM.png\",\"contentUrl\":\"https:\/\/lifehappens.org\/wp-content\/uploads\/2021\/06\/logo_LifeHappens_primary_horizontal_color_SM.png\",\"width\":326,\"height\":50,\"caption\":\"Life Happens\"},\"image\":{\"@id\":\"https:\/\/lifehappens.org\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/lifehappens.org\",\"https:\/\/x.com\/lifehappens\",\"https:\/\/www.instagram.com\/lifehappens\/\",\"https:\/\/www.linkedin.com\/company\/lifehappensorg\/\",\"https:\/\/www.youtube.com\/c\/LifeHappensOrg\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/lifehappens.org\/#\/schema\/person\/7c7486e6f86d86fdae3732fd8d6e5463\",\"name\":\"Helen Mosher\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/lifehappens.org\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/lifehappens.org\/wp-content\/uploads\/2020\/08\/Helen-Mosher-150x150.jpg\",\"contentUrl\":\"https:\/\/lifehappens.org\/wp-content\/uploads\/2020\/08\/Helen-Mosher-150x150.jpg\",\"caption\":\"Helen Mosher\"},\"description\":\"Helen Thompson Mosher is a digital marketing consultant who has been writing about insurance and financial services for more than a decade.\",\"url\":\"https:\/\/lifehappens.org\/blog\/author\/helen-mosher\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"5 Things to Know About Getting Life Insurance for Your Child &#8211; Life Happens","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/lifehappens.org\/blog\/5-things-to-know-about-getting-life-insurance-for-your-child\/","og_locale":"en_US","og_type":"article","og_title":"5 Things to Know About Getting Life Insurance for Your Child","og_description":"[et_pb_fullwidth_module_placeholder selected_tabs=\"all\"]","og_url":"https:\/\/lifehappens.org\/blog\/5-things-to-know-about-getting-life-insurance-for-your-child\/","og_site_name":"Life Happens","article_publisher":"https:\/\/www.facebook.com\/lifehappens.org","article_published_time":"2018-07-31T11:00:51+00:00","article_modified_time":"2020-04-09T14:38:38+00:00","og_image":[{"width":800,"height":534,"url":"https:\/\/lifehappens.org\/wp-content\/uploads\/2019\/12\/Koonsman-blog.jpg","type":"image\/jpeg"}],"author":"Helen Mosher","twitter_card":"summary_large_image","twitter_creator":"@lifehappens","twitter_site":"@lifehappens","twitter_misc":{"Written by":"Helen Mosher","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/lifehappens.org\/blog\/5-things-to-know-about-getting-life-insurance-for-your-child\/#article","isPartOf":{"@id":"https:\/\/lifehappens.org\/blog\/5-things-to-know-about-getting-life-insurance-for-your-child\/"},"author":{"name":"Helen Mosher","@id":"https:\/\/lifehappens.org\/#\/schema\/person\/7c7486e6f86d86fdae3732fd8d6e5463"},"headline":"5 Things to Know About Getting Life Insurance for Your Child","datePublished":"2018-07-31T11:00:51+00:00","dateModified":"2020-04-09T14:38:38+00:00","mainEntityOfPage":{"@id":"https:\/\/lifehappens.org\/blog\/5-things-to-know-about-getting-life-insurance-for-your-child\/"},"wordCount":560,"publisher":{"@id":"https:\/\/lifehappens.org\/#organization"},"image":{"@id":"https:\/\/lifehappens.org\/blog\/5-things-to-know-about-getting-life-insurance-for-your-child\/#primaryimage"},"thumbnailUrl":"https:\/\/lifehappens.org\/wp-content\/uploads\/2019\/12\/Koonsman-blog.jpg","keywords":["children","juvenile life insurance","Koonsman","permanent life insurance","Real Life Story","rider","safety net"],"articleSection":["Juvenile Insurance","Life Insurance"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/lifehappens.org\/blog\/5-things-to-know-about-getting-life-insurance-for-your-child\/","url":"https:\/\/lifehappens.org\/blog\/5-things-to-know-about-getting-life-insurance-for-your-child\/","name":"5 Things to Know About Getting Life Insurance for Your Child &#8211; Life Happens","isPartOf":{"@id":"https:\/\/lifehappens.org\/#website"},"primaryImageOfPage":{"@id":"https:\/\/lifehappens.org\/blog\/5-things-to-know-about-getting-life-insurance-for-your-child\/#primaryimage"},"image":{"@id":"https:\/\/lifehappens.org\/blog\/5-things-to-know-about-getting-life-insurance-for-your-child\/#primaryimage"},"thumbnailUrl":"https:\/\/lifehappens.org\/wp-content\/uploads\/2019\/12\/Koonsman-blog.jpg","datePublished":"2018-07-31T11:00:51+00:00","dateModified":"2020-04-09T14:38:38+00:00","breadcrumb":{"@id":"https:\/\/lifehappens.org\/blog\/5-things-to-know-about-getting-life-insurance-for-your-child\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/lifehappens.org\/blog\/5-things-to-know-about-getting-life-insurance-for-your-child\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/lifehappens.org\/blog\/5-things-to-know-about-getting-life-insurance-for-your-child\/#primaryimage","url":"https:\/\/lifehappens.org\/wp-content\/uploads\/2019\/12\/Koonsman-blog.jpg","contentUrl":"https:\/\/lifehappens.org\/wp-content\/uploads\/2019\/12\/Koonsman-blog.jpg","width":800,"height":534},{"@type":"BreadcrumbList","@id":"https:\/\/lifehappens.org\/blog\/5-things-to-know-about-getting-life-insurance-for-your-child\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/lifehappens.org\/"},{"@type":"ListItem","position":2,"name":"5 Things to Know About Getting Life Insurance for Your Child"}]},{"@type":"WebSite","@id":"https:\/\/lifehappens.org\/#website","url":"https:\/\/lifehappens.org\/","name":"Life Happens","description":"","publisher":{"@id":"https:\/\/lifehappens.org\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/lifehappens.org\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/lifehappens.org\/#organization","name":"Life Happens","url":"https:\/\/lifehappens.org\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/lifehappens.org\/#\/schema\/logo\/image\/","url":"https:\/\/lifehappens.org\/wp-content\/uploads\/2021\/06\/logo_LifeHappens_primary_horizontal_color_SM.png","contentUrl":"https:\/\/lifehappens.org\/wp-content\/uploads\/2021\/06\/logo_LifeHappens_primary_horizontal_color_SM.png","width":326,"height":50,"caption":"Life Happens"},"image":{"@id":"https:\/\/lifehappens.org\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/lifehappens.org","https:\/\/x.com\/lifehappens","https:\/\/www.instagram.com\/lifehappens\/","https:\/\/www.linkedin.com\/company\/lifehappensorg\/","https:\/\/www.youtube.com\/c\/LifeHappensOrg"]},{"@type":"Person","@id":"https:\/\/lifehappens.org\/#\/schema\/person\/7c7486e6f86d86fdae3732fd8d6e5463","name":"Helen Mosher","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/lifehappens.org\/#\/schema\/person\/image\/","url":"https:\/\/lifehappens.org\/wp-content\/uploads\/2020\/08\/Helen-Mosher-150x150.jpg","contentUrl":"https:\/\/lifehappens.org\/wp-content\/uploads\/2020\/08\/Helen-Mosher-150x150.jpg","caption":"Helen Mosher"},"description":"Helen Thompson Mosher is a digital marketing consultant who has been writing about insurance and financial services for more than a decade.","url":"https:\/\/lifehappens.org\/blog\/author\/helen-mosher\/"}]}},"_links":{"self":[{"href":"https:\/\/lifehappens.org\/wp-json\/wp\/v2\/posts\/1304","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lifehappens.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lifehappens.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lifehappens.org\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/lifehappens.org\/wp-json\/wp\/v2\/comments?post=1304"}],"version-history":[{"count":4,"href":"https:\/\/lifehappens.org\/wp-json\/wp\/v2\/posts\/1304\/revisions"}],"predecessor-version":[{"id":1311,"href":"https:\/\/lifehappens.org\/wp-json\/wp\/v2\/posts\/1304\/revisions\/1311"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lifehappens.org\/wp-json\/wp\/v2\/media\/1305"}],"wp:attachment":[{"href":"https:\/\/lifehappens.org\/wp-json\/wp\/v2\/media?parent=1304"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lifehappens.org\/wp-json\/wp\/v2\/categories?post=1304"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lifehappens.org\/wp-json\/wp\/v2\/tags?post=1304"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}