Life Insurance for Children

Catherine_Johnson_2

heretolearn wrote: »

While I can understand a desire to plan for funeral costs should the worst happen, what kind of sicko worries about the loss of child benefit in these circumstances?

I tend to agree with this a bit.

It seems as if the OP is simply interested in money if their child dies (a life insurance pay-out and the loss of child benefit etc).

If you purely want to cover the cost of a potential funeral then just put away some money each month (i.e. the money you are, it seems, willing to pay for a life insurance policy) until you have enough to cover any funeral costs.

Thinking about a financial loss (or worse, a financial gain) because your child dies seems very, very strange.

Wutang_2

silky180 wrote: »

The story is.... a friend's child very sadly and suddenly died.... she had no money for the funeral, then lost her child benefit and child tax credit, therefore reducing her monthly income enough to have an impact. It makes you think if adults can have life assurance and critical illness cover then why can't children!

The more I read this, the more I hate you

dunstonh

I have a savings account for my boys with The Childrens Mutual, you can pick how long you want to save for 15 years etc. But I notice it does have a sum assured payable on death of £2250 (aprox from memory would have to get the paper work out)

Its not a savings account. It is an endowment policy. Obsolete by todays standards and these types of plans are now being viewed as mis-sales if done in recent years (in past years, they were a valid option but things have moved on). So, you may have one running from years ago and that is fine. But you wouldnt want to buy one now.