Getting life insurance for yourself or your spouse a no brainer. It’s one of the best investments that you can make for your loved ones, but what about getting insurance coverage for your kids? Is it worth the money? How much does it cost? Where do you start to get this coverage?
Life insurance on your children is a sensitive subject. No one wants to even think about the untimely passing of their child. However, your finances are the last thing you should worry about if such a thing were to happen and a life insurance child rider can give you some peace of mind.
The good news is adding a child rider to your life insurance policy is VERY inexpensive.
The biggest question we receive from consumers is regarding cost. Every company is different, but you can ballpark it at around $5 per $1,000 of coverage per year. Here’s an example to work out this math:
Lets say you wanted a $10,000 child rider, that would cost you $50 ($5 x 10) per year or roughly $4 per month. A $20,000 would be around $100 ($5 x 20) or roughly $8 per month.
The most important piece of information consumers need to know about a life insurance child rider is the coverage is provided for every child in your family for the same price.
If you have 2 or more children under the age of 18, this child rider is a “no brainer”. For less than $10/mo., you can have $20,000 of coverage for ALL your children. Whether you have 1 child, or you’re Octomom with 8 children – it’s the same price.
We recommend adding a child rider to your life insurance policy if you have 2 or more children under the age of 18.
Child riders last until your children are a certain age, then it expires. Depending on the company, it ranges from ages 21-25. After your child rider expires, you have to purchase an individual life insurance policy if you want to continue coverage.
Keep in mind, not all life insurance companies offer child riders, so make sure you’re working with someone who knows which companies offer them.
Please don’t hesitate to contact us if you want a life insurance policy with a child rider. It’s very inexpensive and we’ll put you with the company that will offer the lowest life insurance rates WITH the child rider added.
Having insurance protection is one of the most important things that you can do for your family. It will ensure that nobody is left with a massive amount of debt or final expenses. You never want to think about a loved ones passing away, but it’s important that you plan for the worse.
The best way to ensure that you’re getting the perfect plan for your family is to work with an independent insurance agent. Unlike a traditional agent, we work with dozens of highly rated companies across the nation and we can bring all of the best rates directly to you. Every insurance company is different, and all of them are going to have different rates for your life insurance plan and the additional child rider coverage. Finding the right company could save you hundreds of dollars on your coverage, but don’t waste your time talking on the phone to all of those companies. Let us do all of that hard work for you.
Most applicants assume that they are going to pay expensive premiums for their life insurance policy, but in most cases, that couldn’t be further from the truth. Most people are surprised to see just how affordable their life insurance is going to be, and there are some changes that you can make to secure even lower rates.
Getting Affordable Life Insurance Coverage
Adding a child rider is extremely inexpensive. It’s only going to cost you a couple extra dollars every month to add the additional protection. If you want to save money, you can do that by getting lower rates on the primary insurance plan. There are a few simple lifestyle changes that you can make to ensure that you’re getting the best rates available.
The first thing that you should do is start a healthy diet and get regular exercise. These can help you lose any extra weight that you’ve gained, lower your cholesterol, lower your heart rate, and drastically reduce your chances of having severe health complications later in life. Perhaps you’re wanting to know what high risk life insurance carriers are available. If so, we can help.
Another great way that you can get lower rates is to eliminate any tobacco products that you currently use. If you’re listed as a smoker on your insurance application, you can expect to pay much higher premiums for your coverage. In fact, smokers are going to pay twice as much for life insurance versus what a non-smoker is going to pay for the same amount. If you want to save money on your life insurance premiums, it’s time to kick the bad habit once and for all.
The best way to ensure that you’re getting the lowest monthly rates is to work with an independent insurance agent, like myself. Unlike a traditional insurance agent, we work with dozens of highly rated companies across the nation, which means that we can bring all of the best policies directly to you. Every insurance company is different, and you can get drastically different rates for your plan and child rider depending on which company that you get the quote from.
Because you never know what’s going to happen tomorrow, you shouldn’t wait any longer to get the insurance protection that your family deserves. You never want to think about all of the awful things that could happen to you or your loved one. But it’s important that you have those safety nets in place for whatever life throws at you.
Either fill out the form on the right for quotes OR call us at 888-430-7668. Our family would love the opportunity to help yours.