Should I get a life insurance for my child even if I have one through work?

Nobody likes to think about life insurance, and why we might need it, especially for children. But there are several advantages to having a life insurance policy to cover your child, with some policies even offering a cash payout. At Busick Insurance Agency LLC in Orleans, IN, we can help you learn about the different kinds of insurance to make sure you have everything you need.

Many employers already offer a life insurance policy to all their employers, including discounted coverage for families. However, those policies may not be enough.

They may be limited in the amount of the payoff. More importantly, since they are tied to your job, you will probably lose all those life insurance policies when you leave that job. At that point, it may be more difficult to obtain a policy at those prices. Prices for life insurance policies go up, often significantly, when people get older and when they discover health problems.

The insurance your employer provides may not even be your cheapest option, but the only way you will find out is if you explore your options. You may want a term life insurance policy, which can be tied to your policy and save you money. Or you may want a whole life insurance policy, which will pay a face amount. These accounts can be more expensive, but they also include a monetary amount which will be available to your child at a later date.

If you want to discuss all your life insurance options, including which kind of life insurance would be best, call Busick Insurance Agency LLC in Orleans, IN today. We will be happy to sit down with you and answer any questions you may have.