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How does it make sense to insure kids?!

on Sun, 03/24/2013 - 15:06

*photo credit: Heart and Stroke Foundation

Do you find it funny or weird why people are talking more on starting to insure their children?

I know, it might sound weird and even scary... but if you can open your mind and look beyond the "insurance" name... here is what the facts are... Our childern face high risk since the first day they were born! This is a scary news piece from yesterday... 

- Have you had any experience on kids breaking their leg after a ski trip? Broken their arm after going to the park? Children are always active, this is normal and common.
- Do you know, in Canada, childhood cancer is the second highest cause of death among children ranges age 1 to 14?
...... Because one in every 400 children risks being stricken with cancer before age 15.
- Are you aware we are a LOT less healthier than before? This is a chart done by the Heart and Stroke Foundation on Canadian adults, do you think this applies to kids too?
 
The truth is, it does, the Weight-control Information Network (WIN) published a report on Overweight and Obesity Statistics:
- Childhood obesity has more than doubled in children and tripled in adolescents in the past 30 years. The percentage of children aged 6–11 years in the United States who were obese increased from 7% in 1980 to nearly 18% in 2010. Similarly, the percentage of adolescents aged 12–19 years who were obese increased from 5% to 18% over the same period.
- Overweight and obesity are associated with increased risk for many types of cancer, including cancer of the breast, colon, endometrium, esophagus, kidney, pancreas, gall bladder, thyroid, ovary, cervix, and prostate, as well as multiple myeloma and Hodgkin’s lymphoma.
 
A even closer to reality check:
- Do you think you will go to work as usual while your child is sick in the hospital?
- Are you aware that if your child (or any of your family members) is sick, what is the financial and emotional impact to you?
- Have you thought of lots of medical expenses together with certain drugs are not covered by public health plan?
- 75% of children being struck with cancer will recover, but they are no longer insurable...
- Protect your hard-earned savings from medical expenses and enjoy life together after recovery
- Children after recovery will be uninsurable (no longer able to get any life insurance coverage), you can only secure the child's insurability by placing coverage on the child before the illness or sickness hits (believe it or not, we can insure your future kids).
- Premium on children is always affordable, we can even structure the premium paid up in 20 years. 
- Insurance policy is one of the best gift ever you can offer to your kids when they grow up as a wedding gift.
- If structured well, you can pass on your wealth to your kids without any tax implications.
- Lastly, check out a calculation I did on how much return on investment an adult can achieve (the excel spreadsheet at the bottom) through getting a life insurance policy, the picture gets even more beautiful when it comes to kids.  
 
**Everyone will have their own numbers based on age, health and gender at the time of application. Contact us for a personal evaulation.

Comments

Epifania's picture

It's nearly impossible to find well-informed people about this topic, however, you sound like you know what you're talking about! Thanks

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