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Why Child Life Insurance Is Important According to William Schantz

Importance of Child Life Insurance

When it comes to life insurance, children are often one of the most vulnerable members of society. Previously dismissive attitudes have evolved dramatically as a result of the COVID-19 epidemic. For both adults and children, life has become exceedingly unpredictable. William Schantz is convinced that more global pandemics will occur in the future, which implies that purchasing life insurance should be a top priority for individuals everywhere.

This raises the issue of children once more. Should they purchase life insurance? What are the advantages and disadvantages of having children’s insurance? Here are all the answers:

Child Life Insurance Explained by William Schantz

Children’s insurance plans work similarly to adult insurance policies in that premiums are paid in exchange for a promise to pay specified benefits when the child’s life comes to an end. This is a contract between the insured and the insurance company. In most child insurance policies, the child is covered, but the policy is held by their parents or guardians. The stipulated sum is paid to the policyholders who are regarded as the beneficiaries at the time of maturity.

The Advantages of Purchasing Life Insurance for Children

Purchasing life insurance for children at a young age has a number of advantages. The action, first and foremost, promotes their future insurability. Even if the child develops specific illnesses or problems later in life, they will still be covered by the same insurance policy. According to William Schantz, the life insurance you purchase for your children will pay off handsomely in the future. Insurers occasionally offer riders for a modest fee that allows children to obtain greater coverage later in life.

Second, insurance firms charge significantly lower premiums for newborn children. Rates rise in tandem with their growth. Of course, premiums will rise with time, but you’ll still be able to get a better deal than if you bought life insurance as an adult. Finally, there may be a monetary value connected with specific coverage plans. This sum can be used for a variety of expenses that may arise over one’s life.

Children’s Life Insurance Has Its Drawbacks William Schantz States

Although life insurance for children is highly recommended and has numerous advantages, it also has some drawbacks. These disadvantages include a reduced rate of return when compared to adult coverage policies. If life insurance is purchased at birth, for example, it will take around 15 years to break even, which is extraordinarily slow. As William Schantz argues, it is also an exceptionally long commitment that a parent must make as long as their child is unable to cover their own bills.


Children are among the most important assets of a family. Getting life insurance for them is a contentious topic, but it is an investment they deserve. The advantages of acquiring coverage for children, according to William Schantz, clearly outweigh the disadvantages. This is why parents should think of it as an investment opportunity that can help their children’s futures become brighter.