Thursday, February 16, 2012

When is the earliest a child can be insured

When is the earliest a child can be insured?
Is there a minimum age for the health and/or life insurance of a child? If yes, what is it?
Insurance - 4 Answers
Random Answers, Critics, Comments, Opinions :
1 :
They can have either life or health insurance on the day they are born. Many infants are covered by health and life insurance. Good question.
2 :
Right away. I bought my kid's life insurance in infancy, and added to my health insurance immediately. If you don't have health insurance yourself, most states have some kind of kid's health insurance available. Call an agent for specific details. Are congratulations in order? If you have a newborn, congrats.
3 :
There is no minimum age for health or life insurance for a child. The only limitation is that life insurance on a child can usually only be written for a fairly low maximum, I believe it may be up to $10,000. Life insurance on a child is usually used to help cover burial expenses since children typically do not have income replacement issues.
4 :
You should think twice about getting life insurance for a child. If you were to lose a child it would be a tragic loss, but life insurance is designed to replace income for surviving family members. It's probably safe to assume your child is not earning income you are depending on so you probably don't need life insurance for him/her. Health insurance is very important for young children and they are usually added to your policy right away. I think it can even be retroactive up to a certain time (30 days).

Read more discussions :