Thinking about purchasing insurance for your children is not an easy thing to do. The last thing any parent wants to consider is the potential of losing a child. But there are many reasons that buying life insurance coverage for your children makes good sense and some of them may even surprise you.

Children and grandchildren have many advantages today. Purchasing life insurance coverage for them will help give them a head start on their tomorrow. Insuring your children when they are young and healthy is easy and affordable. It also allows you to lock in lower rates today. As your children grow, their lifestyle, hobbies and career choices may make them less insurable or subject to higher, rated premiums.

Some plans can be paid up in 20 years. With this type of plan, as a young adult, your children will have paid-up insurance at a time when their needs are high but their discretionary income may not be. The cash value can be accessible, which means it can help your children out when they may need it most. While it may be subject to taxation, your children can use the cash value in the policy to fund education or anything else they may need.

In the event the unthinkable happens, insuring a child can protect the financial security of the whole family since the loss of a child can trigger the loss of income for one or both parents as they cope with the physical and emotional impact.

Whatever your reason, thinking about the benefits of purchasing insurance coverage for your children is an important consideration for your financial plan. Talk to your Financial Advisor about how Equitable Life can help.