Is Baby Life Insurance Necessary?
March 18, 2009 by Jennifer Chait
Filed under Baby Savings, Kid Stuff
In a word – NO.
In many more words, here’s the problem with baby life insurance…
According to Smart Money and Consumer Reports life insurance for a newborn makes little to no financial sense unless your little one happens to be the sole bread winner in the family. Obviously this is rare unless your tot is big time Hollywood, so skip that insurance.
In the Smart Money piece, an actuary with the consumer advocacy group Consumer Federation of America, notes that baby life insurance is not only unnecessary but that, “It’s never a good idea.“
Why you don’t need baby life insurance:
The main reason …read more
