Newborn Life Insurance Quote Virginia

Reader’s Question:

I have a newborn baby and an insurance agent is giving me a baby life insurance quote. Do I need a baby life insurance? Which type should I pick in Virginia?

Holly

Alexandria, VA

You are probably very excited this time in your life…and might be quite excited in securing your baby’s future. However, is it really a good idea to get your child a baby life insurance?

Most insurance companies in Virginia nowadays offer life insurance policies for babies in order to give him/her a good ‘financial head start’. Baby life insurance rates are usually affordable and guarantee your baby’s future insurability, even in the event of a health condition that will deteriorate. In case the child dies, most policies for baby life insurance even offer burial costs. Most life insurance companies would encourage you to buy a whole life insurance policy for your baby instead of the straightforward term life policy by highlighting the cash value which your child can take advantage of in the future.

These benefits and ‘fringe benefits’ can be quite tempting for any parent like you! But the question is, is it really essential?

Before you join the bandwagon of Americans who have been lured into buying baby life insurance policy, you better be warned first. The bottom line is, the cost of a baby life insurance is much higher than the benefits gained, especially if you are underinsured. Better get enough life insurance for yourself before you buy one for your child.