Anonymous
Life Insurance for a Newborn Baby - Does it make sense to buy them? There are so many mother to baby products that advisors recommend but I learnt that whole life for baby is a rip-off.
KEY TAKEAWAYS
"Since life insurance compensates families for the loss of a breadwinner, a policy on a non-earning infant doesn't make sense in most cases.
A small policy on a child's life can, however, be a way to cover expensive funeral costs or unreimbursed medical expenses.
Many adult life insurance policies offer child riders for only a few dollars a month."
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tze
20 Jun 2022
Application Specialist at BOI
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I will suggest that you consider to buy insurance from FWD or SingLife for the purpose of medical, accident, TPD and CI. And look at robo advisors like stash, syfe and squirrelsave to build the education funds.
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If you have limited funds, try to consider the following instead
- Additional Medical Insurance fo...
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Personal choise. After you buy the medical & PA, then can consider Life insurance. More important is to include the early CI, which make ur child life easier when grown up