Life insurance can be a scary thing because it means we have to face the fact that we’re all mortal beings, and that’s a hard thing to comprehend, let alone make peace with. It usually takes having a child before someone considers getting life insurance, so you may be thinking, “Really? Why would my newborn need life insurance?” But hear me out.
There are actually many benefits in having newborn, or child, life insurance. For instance, if in the tragic case that a parent loses a newborn, they will be responsible for any funerary costs, which can get expensive. According to Investopedia.com, the average funeral costs between $7,000-$10,000. Still not convinced? Keep reading.
If you’re adamant that newborn insurance isn’t necessary, you can always get it for your child when they get a little older. You don’t even have to get a separate policy if you decide that you want it later down the line because some policies allow child add-ons, for only a few dollars a month. If that’s not for you, I bet you this app will interest you.
The best part is, if you use the [Tomorrow](https://smart.link/5a020e258b565) app, you can buy and file all the information regarding your life insurance policies for both mom, dad, and baby, but you can store other information like your will, appoint your trustees, and establish a trust fund. The app is free so you can get started protecting your family while always having easy access and ability to change any information so it reflects your decisions in real time. Still not convinced? Keep reading.
A great feature of most child life insurance policies is that you can lock in an interest rate so that him or her can carry it on throughout life. You’re even helping your future grandchildren by setting it up for their parent. Best future grandma ever, I’d say. If you’re still not interested, that’s okay. However, how well do you know the healthcare laws?
If the interest rate isn’t enough to entice you to get coverage, then maybe the inept healthcare laws will. If your child develops a serious health issue at a young age, it may affect his or her ability to receive coverage in the future. You’re probably thinking there can’t possibly be any more reasons why someone should get child life insurance, but think again.
Another reason to get your child life insurance, is if and yes it’s a small if, but if they ever end up getting seriously ill and dying, it can often leave families in crippling debt. Of course no one wants to think about his or her child dying, but if your family happens to be one of the unfortunate ones, your financial state could be in ruins. If you have multiple children to think about, it’s not such a bad idea. There is also the grief aspect, which no one ever prepares you for.
A major reason to get child life insurance, which many people never talk about, is the trauma that comes along with losing a child. Death is traumatic in itself, but little is more traumatic than losing a child. Speaking from someone who has experienced the death of an immediate family member, the trauma can last for years and you may need to take time off of work, which can be a financial strain.
The most important thing to do when you’ve been through such a trauma is take the necessary time to grieve so that you can continue to live a healthy life. Everyone grieves differently, so it may be something to consider. It took weeks for me to even get out of the house when my dad died, let alone go back to work and resume life at a normal speed, so I can’t imagine what it would feel like to lose a child. Not to mention, losing a child takes its toll on a marriage, so you might need to take time to focus on that as well.
If you can’t get on board with getting your child life insurance, many people would agree with you. However, no one can debate the benefits of getting your own life insurance policy to ensure the safety and well being of your children in the event of your premature death. The easiest way to get all of your legal information together while essentially having an online expert to guide and educate you through the purchasing process is to download the app by clicking [here](https://smart.link/5a020e258b565) and start thinking about [Tomorrow](https://smart.link/5a020e258b565), today.