Child life insurance: Difference between revisions
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#REDIRECT [[Juvenile_Life_Insurance#Child_Life_Insurance]] |
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Child life insurance is a form of [[permanent life insurance]] that insures the life of a minor. It is usually purchased to protect a family against the sudden and unexpected costs of a child’s funeral or burial<ref>http://www.netquote.com/life-insurance/understand/child-life-insurance-secure.aspx</ref> and to secure inexpensive and guaranteed insurance for the lifetime of the child<ref>http://www.compuquotes.com/Child-Life-Insurance.html</ref>. It offers guaranteed growth of cash value, which some carriers allow to be withdrawn (collapsing the policy) when the child is in their early twenties<ref>http://www.gerberlife.com/gl/view/guide_products/growup/index.jsp</ref>. Child life insurance policies typically offer the owner the option to purchase, or in some cases obtain additional guaranteed insurance when the child reaches |
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maturity<ref>http://www.gerberlife.com/gl/view/guide_products/esp/index.jsp</ref>. |
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Child life insurance policies typically<ref>http://www.buy-globe-life.com/?utm_source=google&utm_medium=ppc&utm_campaign=globe&gclid=CIaBzMPkiaUCFQRM5QodvhfVMQ</ref><ref>http://www.gerberlife.com/gl/view/index.jsp</ref>: |
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*Are issued with face values between $5,000 and $50,000. |
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*Are always issued without a required medical examination. |
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*Have zero investment and zero interest rate risk associated with cash value growth. |
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*Provide insurance coverage for a designated beneficiary. |
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Child life insurance should not to be confused with [[Juvenile Life Insurance]], which is issued with much larger face values (normally $100,000 -$10,000,000) and is generally purchased for college savings, lifetime savings, [[estate planning]] and guaranteed insurability.<ref>http://juvenilelifeinsurance.org/what_is_it.html</ref>. |
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Child life insurance has been criticized for causing a motive for murder of insured children. 45 coroners have stated that child life insurance is a motive to murder.[http://query.nytimes.com/gst/abstract.html?res=F50B15F7355F10738DDDAD0894D9405B8185F0D3] |
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== References == |
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<references/> |
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[[Category:Life insurance]] |
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Revision as of 08:37, 24 April 2012
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