Child Life Insurance
Though it’s not something any parent likes to think about, child life insurance is a way to protect against the costs of a child’s funeral and burial in the event of a tragedy — expenses that can arrive at the worst possible time.
How child life insurance works
A child life policy is a form of permanent insurance taken out on a minor. It can be purchased up until the child reaches age 18, and face values typically range between $5,000 and $50,000. Because it’s permanent coverage, the policy builds cash value over time and stays in force as long as premiums are paid.
Why families consider it
Beyond covering final expenses, child life insurance offers two lasting benefits: it locks in the child’s insurability regardless of any health conditions they may develop later in life, and many policies can be converted to a larger amount of permanent coverage when the child becomes an adult — often without a new medical exam.
Every family’s situation is different. Your Snyder account manager can walk you through whether child life insurance fits your needs and how it complements the rest of your family’s coverage.
