Protecting your child’s insurability
This is industry-speak for making sure your child will always be able to get life insurance. Unless your child has a health condition that will make it harder for them to buy coverage as an adult, you don’t need to worry about protecting their insurability. What’s more, young, healthy adults in their 20s and 30s can often access cheap life insurance rates.
However, if you have a family history of genetic illnesses that develop throughout childhood, you might want to purchase a policy for your child now. That way, you can lock in coverage for their entire life without them having to take a medical exam.