by bhushan pandey
Published Mon, Jul 24th 2017, 18:00 | Finance
Chances are that if you have children that you're looking to buy life insurance for, you are probably responsible enough to have life insurance on yourself, as well.
You can get very, very inexpensive life insurance when you buy life insurance for your entire family at one time. The reason for this is because you can add your children and your spouse to your policy as a "rider". A child rider allows you to add $5,000.00, $10,000.00 or as much as $50,000.00 to your policy when you obtain it. This is insurance on your children that is on your policy. It can be converted to an individual policy for your kids when they are of legal age.
Having a children's insurance rider on your existing Child Insurance Plans saves you a lot of money vs buying an entirely separate policy just for them. The insurance company does treat it as a separate policy, however the premiums are much less and for some people, an added benefit is that there are minimal health questions.
If you don't already have life insurance for yourself, it's a very responsible thing to do for the future of your kids, should something happen to you before your children are able to take care of themselves. Getting just a small term policy for 3 or 4 dollars per month and then adding a children's rider to it for just around 5 bucks a month is a sneaky little way to save money on insurance for children. This is a great way to save money now and also help your kids out in the future.
Source:- http://bit.ly/2vWqsyW