I was listening to the radio today and I think it was Gerber that was selling life insurance policies for kids and it made me wonder, the only advantage I can think of for this is to cover the funeral costs if something were to happen for some who may want or need it. Personally I think it is kinda odd to take a life insurance policy on your children.
Now I'm sure that some get it automatically with some work policies and sure thats great but would you consider ever doing this and for what reasons?
About 10 years ago I recieved a call from an insurance company explaining a premium increase. I was floored because I never bought a policy from them. It was revealed to me that my father hade taken out the $500000.00 policy, naming himself as beneficary. He had recently frauded me out of $65000.00 equity in a realestate transaction and we weren't speaking at the time. If that was not enough, just about a month after the policy was purchased I was mugged at knifepoint in front of my children and barely escaped with my life. Coincidence??? He is still in good standing in his congregation. WHEN I brought this information to the elders I was told not to stir the pot and to let it go. I knew his reasonings for the policy, he's a manipulative ass. A picture perfect DUB.
