A great reason to invest in juvenile life insurance is to ensure that your children are covered from the get-go, and as they get older, may be able to take advantage of riders that allow them to expand their coverage at a guaranteed rate without any question about their respective health. People’s health changes, including children’s, and having a policy in place can ensure they’ll have the coverage they need, despite health changes.
I recently ran across a yellowing sheet of paper with a typewritten letter; it was a copy of a note I had sent to my son. The date on the letter was Nov. 21, 1989, and my son was just four months old at the time. As I read it again after so many years, I realized something: Although I was telling him about the life insurance policy we had just purchased for him, it was, in fact, a love letter.
if a life insurance policy was in place, especially one with a guaranteed policy purchase option for additional insurance in the future or the option to convert from term to permanent, the child will continue to be covered, regardless of what happens in terms of his or her physical health.