Three Special Children’s Insurance to Keep Your Kids Protected
Our children is our everything, aren’t they? As good and loving parent, we won’t let anything bad happens to our kids. That’s why we need special children’s insurance that helps us keeping our kids protected. Do you know what insurance policies available for kids? Which one do you need for your children? Figure out some insurance policies belong to children below and get the right one.
Protect Your Future Kids with Special Prenatal Insurance
Mom and dad can buy prenatal insurance even before the baby is born. Even so, mom and dad can only buy prenatal insurance when the pregnancy hits 18 weeks. This special insurance is going to protect the future baby financially. This insurance is going to pay if there is pregnancy complication. Any congenital disease when the baby is born will also be covered by this kind of kids’ insurances.
Since the future baby is in mom’s body, will the insurance cover mom’s body as well? Mom and dad must ask the insurers since different insurers offer different coverage variety. Some insurers may provide policy covering both mom and baby but another insurer may only cover the baby. Besides, claim limits also vary depends on the insurers. Talk to more than one insurers before buying policy.
Special Kids Insurance for Children’s Whole Life
How does this insurance policy work? This insurance is going to protect your kids since they are so young. When something bad happens, like your kids get critically ill, pass away, or become disabled permanently, insurance policy is going to pay out sum assured. Some insurers even double the lump sum that is called sum assured. Some other insurers even triple it in few first decades of kids’ life.
Whole life kids’ insurance is not only offering protection but also cash value. The simpler word for this term is savings. At certain point parent can draw out lump sum in greater amount than total premiums that parent had paid over years. Parent can use that lump sum for emergency contingencies. There is one more insurance you must buy for your children.
Special Endowment Insurance Policy
This one may look like the second insurance type above but it is a little difference. There are usually three long terms available, 10 years, 15 years, and 20 years. This insurance for kids has protection element though it is not the main element of this insurance. Main focus of this insurance policy is to make parents save their money. Endowment policy allows you to save money and help kids in future.
You better start saving when your kid is 11 years old and take the 10 year insurance policy. If you prefer the 15 year insurance policy, buy it when your kid turns 6 years old. If 20 year insurance policy is what you want, buy it since your beloved baby turns 1. When your kid is ready to go to college, you
will be ready to send your son or daughter to the best campus they desire.