Children s Life Insurance: Is It Worth It?

Life insurance for children:
is it really worth it?
Photo by Ted Bongiovanni

The Globe and Mail wrote an interesting article exactly a year ago, in October 2011, asking “Does your child need life insurance?”

“There are usually three main reasons to buy life insurance on a child,” says Karl Simon, director of product and marketing for Equitable Life. “The first is to protect the family if the child dies. No one wants to think about their child dying, but the reality is, if the child dies it will affect the family in a horrible way that could really harm their finances.”

Tom Drake, of the _Canadian Finance Blog_, disagrees. He writes in his Insurance You Can Do Without series, which was quoted by The Globe and Mail :

From a financial perspective, what monetary loss will you suffer if something were to happen? There is the cost of the funeral, but otherwise your financial responsibilities would be reduced from not having to provide for that dependant. If the cost of the funeral is a concern, you would likely be better off by saving yourself the cost of premiums and adding that same amount into your emergency savings.

However, Simon reminds us that one or both parents may need to take significant time off work, especially if they have other children. The death of one child may also prevent parents from contributing to the education of their other children. “Forgetting about yourself entirely,” says Simon. “Most people say that if their child dies, they’ll deal with it, but think about the rest of your family that your providing for and how it could affect them.”

The second reason Simon lays down for buying life insurance for a child is to guarantee future insurability and make sure the child can still get insurance regardless of her health situation later in life.

“People aren’t buying life insurance on their kids, so they can get a pile of money if their child dies,” says Simon. “Generally, it’s a small amount of money, between $100,000 and $125,000, but what some companies are doing is they’re building in future guaranteed insurability. At Equitable, we have a feature called FGIO, or The Future Guaranteed Insurability Option, that’s only available to children and what that does is provide the child with up to $500,000 of guaranteed insurability in the future that they can use to by life insurance.”

Whether children need this option is another question. Drake doesn’t think so: When it comes to protecting your child s rates from future health issues, this would be a bit like gambling. To insure for this reason, you would probably have some concern that your child will have problems in the future. The problem is, if you know of any family history, then you have to tell the insurer and this will lead to higher premiums right from the start, and if you don t tell them, they could deny your claim.

But then again, at Equitable Life, a participating whole life insurance policy will only cost a male at age zero $1,000 a year for $80,000 in guaranteed face amount, and for an extra $50, you can get the Future Guaranteed Insurability Option, which gives your child the extra $500,000 towards future insurance at a very low price. The child or parent can pay for the policy until age 100, or just pay for 20 years before it’s fully paid up. The plan is extremely popular at Equitable Life, and it’s one of the reasons 40 per cent of their policies are sold to juveniles.

The third reason to consider children’s life insurance is that if you buy your child a participating whole life insurance policy, the policy provides the child with cash value that they can use towards their future. “It makes a great gift from either a parent or a grandparent for a newborn child,” says Simon. “The cash value will grow and the child will be able to access that cash value in the future if they ever need to.” Some people will use these cash values for education, a car, a house, or starting their own family.

With all these benefits, Simons sees only one drawback that may not make life insurance for a child worth it to some families. “Let’s say you want to buy that policy for $1,000 a year, but after five years, you say, ‘I need that money,’ and it would be gone. Plus, the cash value after five years isn’t very much because the cash values start slow and they build up over time. The main consideration would be that if you’re not sure that you can really afford it, then you probably shouldn’t buy it. You have to be pretty confident that you’re going to be there to pay the premiums for the 20 years.”

Posted by Chantal Marr.

Chantal Marr is a member of the Independent Financial Brokers of Canada.
Much of her success stems from her ability to listen to her clients’ needs.
Read Chantal’s background .

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Kart Theft Insurance

Our annual kart theft insurance covers storage and transit risks and the first time you buy from us we will actually REFUND 59.99 being the cost of Datatag identification kit meaning you get this for FREE!

Basic cover for our go kart theft insurance includes theft, accidental damage and fire insurance from storage premises. Datatag offers a unique identification to your go kart and all insured equipment acting as both a deterrent to thieves and aids police and insurers in the recovery of stolen property.

Our go kart theft insurance policies come with options that allow you to extend your cover while travelling to and from a karting event and whilst at the circuit during a karting weekend.

Go Kart theft insurance policies provided by us include a unique circuit ON TRACK extension that will protect your kart chassis in the event it should be badly damaged while you are racing. We are the only providers of this type of cover so your kart theft insurance policy can now include uo to 1,500 of chassis damage.

We also recognise that it is not just the kart itself that needs insurance but all the associated equipment. This includes your race wear, helmet, tools, spares, equipment and even your trailer. Obtain your FREE quotation today and see just how much cover our kart theft insurance policies can provide.

MSA Kart Licence Holder Insurance

We don’t limit ourselves to just kart theft insurance and we have a special Kart drivers personal accident insurance policy. This is specially designed for MSA Kart Licence holders is available for; death, permanent disablement insurance or permanent disability and even loss of income. For circuit karting at those European race events your go kart racing personal injury policy can include emergency medical expenses and repatriation.

If you are an anxious parent with children looking to be taking up karting for the first time or already have kids learning the skills of circuit karting then our on-line kart insurance accident policy for children will allow you to cover up to 250,000 for permanent disability for under 90 for the season.

We have the policy for you whether you need insurance for go karts during your go karting at a race circuit, on the way to the track, or you need a to cover personal injury to go kart drivers.

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#interior design kids rooms


Designing a child s bedroom can be very challenging considering the fast pace in which kids are growing up these days. It s hard enough keeping up with endless influx of technological gadgets before finding ways to store all of these next best things . But alas, there are fun innovative storage solutions disguised by splashes of color that would make any room look like a three dimensional Picasso! In these beautifully designed rooms below, the perfect balance of practicality and creativity has been achieved and will easily appeals to parents and children alike.

The brilliant color combination of the beds. area rugs. closet units and desks are striking and set an exciting tone against the whimsical shapes and forms they create.

Wall art has also become a convenient way to dress up a child s room, delivering simplicity with a punch of character in its application.

All these organizational ideas clear some floor space for a fun and modern play land as well as plenty of space for homework, of course!


European Platform for Investing in Children (EPIC)

The European Platform for Investing in Children (EPIC) is an evidence-based online platform that provides information about policies that can help children and their families face the challenges that exist in the current economic climate in Europe.

Helping to implement the Recommendation for Investing in Children

EPIC helps Member States implementing the Recommendation for Investing in Children and is a tool for monitoring activities triggered by the Recommendation. It is also a platform for sharing the best of policymaking for children and families and to foster cooperation and mutual learning in the field.

EPIC is be used to collect and disseminate innovative and evidence-based practices that have a positive impact on children and families in EU Member States. Evidence-based practices that have demonstrated effectiveness through rigorous research are made available in the Practices that work section.

EPIC also participates in seminars and workshops around the EU on strategies for improving outcomes for children and families.

Recommendation for Investing in Children

The Recommendation provides guidance for EU Member States on how to tackle child poverty and social exclusion through measures such as

  • family support and benefits,
  • quality childcare
  • early-childhood education.

Member States integrated strategies should be developed according to three key pillars :

Social investment in individual capacities during the early years is particularly beneficial for children from a disadvantaged background and can provide large social returns. They are also a crucial factor in breaking cycles of intergenerational transmission of poverty.


EPIC produces an occasional electronic newsletter intended for anyone with an interest in policies that can help children and their families face up to the challenges of the current economic climate.

#nursery interior design ideas



Sherri Blum, CID is your baby nursery design and kids room design specialist. Sherri is internationally renowned for her timeless design and attention to details. Over the years she has designed and decorated baby nurseries ranging in themes from princess rooms to sports and nautical nurseries. Her kids room designs include floral girls rooms, transportation theme boys rooms including trains, airplanes, and boats; plus cowboy theme rooms and other classic vintage designs that will grow with your child through the years. Sherri has also assisted with commercial design in daycares and preschools and was part of the advisory team for a children s playroom that was totally environmentally conscious for the Leeds Certified Covergirl offices in Baltimore. She has designed a celebrity nursery for the Hollywood celebrity babies of Jodie Sweetin, NFL star, Bart Scott and others. Her heirloom quality nursery wall art can be found in the celebrity nurseries of Mario Lopez, John O Hurley, Angela Kinsey, Tori Spelling and more. She can create a beautiful child s room or designer nursery on any budget. Sherri also offers luxury designer baby furniture and decor such as designer baby crib bedding, baby nursery furniture and kids decor for every taste and style. Contact her today for an appointment or if you re out of the area, check out her Cyber Design Services for interior design clients anywhere in the world. See a sampling of her dozens of designer rooms here to get some great baby nursery ideas!

Want to contact us to discuss your needs? Complete our brief Contact Us form and we will contact you shortly!

Interior designer, interior decorator Baltimore Maryland, Harrisburg, Gettysburg, Pittsburgh, Philadelphia Pennsylvania, New York, New Jersey, Washington DC, Virginia and nationwide.


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Us, Elsewhere


It’s for the Kids. The Money. After We Take Some.

I really didn’t declare this to be Griftopia Tuesday here in the shebeen. But the stories keep getting more grotesque. Here’s Forbes with the latest and slimiest. It turns out that the president* and The Dim One may have gouged The Dim One’s children’s charity.

The best part about all this, according to Eric Trump, is the charity’s efficiency: Because he can get his family’s golf course for free and have most of the other costs donated, virtually all the money contributed will go toward helping kids with cancer. “We get to use our assets 100% free of charge,” Trump tells Forbes. That’s not the case. In reviewing filings from the Eric Trump Foundation and other charities, it’s clear that the course wasn’t free–that the Trump Organization received payments for its use, part of more than $1.2 million that has no documented recipients past the Trump Organization. Golf charity experts say the listed expenses defy any reasonable cost justification for a one-day golf tournament. Additionally, the Donald J. Trump Foundation, which has come under previous scrutiny for self-dealing and advancing the interests of its namesake rather than those of charity, apparently used the Eric Trump Foundation to funnel $100,000 in donations into revenue for the Trump Organization.

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As a cop friend from New York once put it, these people have overcoats with rubber pockets so they can steal soup.

All of this seems to defy federal tax rules and state laws that ban self-dealing and misleading donors. It also raises larger questions about the Trump family dynamics and whether Eric and his brother, Don Jr. can be truly independent of their father. Especially since the person who specifically commanded that the for-profit Trump Organization start billing hundreds of thousands of dollars to the nonprofit Eric Trump Foundation, according to two people directly involved, was none other than the current president of the United States, Donald Trump.

Great work you’re doing there, son. Where’s mine?

But in 2011, things took a turn. Costs for Eric Trump’s tournament jumped from $46,000 to $142,000, according to the foundation’s IRS filings. Why would the price of the tournament suddenly triple in one year? “In the early years, they weren’t being billed [for the club]–the bills would just disappear,” says Ian Gillule, who served as membership and marketing director at Trump National Westchester during two stints from 2006 to 2015 and witnessed how Donald Trump reacted to the tournament’s economics. “Mr. Trump had a cow. He flipped. He was like, ‘We’re donating all of this stuff, and there’s no paper trail? No credit?’ And he went nuts. He said, ‘I don’t care if it’s my son or not–everybody gets billed.’ ” “I saw that Eric was getting billed,” Gillule adds. “I would always say, ‘I can’t believe that his dad is billing him for a charitable outing.’ But that’s what they wanted.”

There is something Shakespearian about all of this, if Shakespeare had been born Donald Westlake.


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Duncan Lewis Solicitors:


Our motto is “We give people a voice”. As Solicitors serving the people we represent over 20,000 new clients a year in offices across London and in most of the major cities in the UK. We therefore take our motto very seriously indeed and do our utmost to listen to your problems first and then try our best to speak out on your behalf. We are your voice in the Courts of Justice throughout the UK.

Our solicitors and lawyers actually do care about you and are committed to providing the best possible service to you in the most caring and careful manner. Yes, we are the largest legal aid providers in the UK and yes, we have specialists solicitors in: Divorce & Childcare, Crime & Fraud, Civil Liberties & Human rights, Housing, Immigration, Litigation, Mental Health and Personal Injury, Professional Negligence, Professional Regulation, Public Law but our solicitors and lawyers are not just academic specialists – they are solicitors who combine a deep knowledge of the law and its practical application to you with a firm belief in your right to legal aid and to a committed representation throughout your matter. Our solicitors place service to the public above all else and are able to advise on the best possible course of funding in the event you do not qualify for legal aid. Our rates are competitive and we can also explore the opportunity to fund your case on a fixed fee, through insurance and or on a no win no fee.

When you come to Duncan Lewis you come to a place where there are over 325 qualified solicitors (most of whom are Law Society Panel accredited or equivalent), over 355, trainee solicitors, legal executives, barristers and support staff who are willing to take the time to listen to your problem, evaluate it correctly in terms of the law and where possible to speak out on your behalf and present your point of view in the best light and achieve legal remedies which correctly and properly address your problem.

Our solicitors will always give of their best and will always try just that little bit harder on your behalf. Our solicitors are here to listen, help and to give you a voice. Duncan Lewis has the Law Society Lexcel, Investors in People Gold Standard quality marks and is also recognised as a top tier law firm and ranked and recommended as a leading law firm in 10 legal practices nationwide in Legal 500 2015 edition and recognised as a leading law firm in Chambers UK 2016.

Legal 500 – what they say about us

Duncan Lewis has received nationwide recognition for its excellence. The Legal 500 2016 Edition continues to rank Duncan Lewis Solicitors as a recommended law firm across 10 legal departments in London, the Midlands, Wales and UK-wide. The current 2016 edition recognises our specialisms in the following areas: Asylum, Immigration & Human Rights; Business Immigration; Social Housing; Criminal Defence; Family, Matrimonial & Childcare; Court of Protection/Mental Capacity; and Public Law Civil Liberties Judicial Review claimant matters. The 2016 Edition has also recommended 16 Duncan Lewis lawyers.

Duncan Lewis received its first “Top Tier” Ranking award for its London Immigration Human Rights practice and also maintained its “Top Tier” status for Immigration Human Rights work in Wales.

For nearly 30 years the Legal 500 legal directory has been an independent worldwide client’s guide to the best law firms and lawyers, which analyses the capabilities of law firms worldwide with a comprehensive research programme heavily focused on peer and client feedback. Used commercially by companies and clients, the series is widely renowned for its definitive judgment of law firm capabilities.

Human Rights Immigration (London); Top-Tier firm 2016

“Duncan Lewis Solicitors’ ‘dynamic and very well-organised’ group specialises in acting for clients in judicial review proceedings before the High Court, as well as handling Upper Tribunal and Court of Appeal cases… Clients recommend the ‘hardworking’ Adam Tear, ‘knowledgeable’ James Packer and ‘genuine star’ Toufique Hossain.” – 2016 Edition.

“Duncan Lewis Solicitors’ ‘very good’ team has a strong track record representing SME clients on business immigration, and a stellar reputation for handling test cases…” – 2015 Edition.

“The ‘very good’ Duncan Lewis Solicitors is valued for its ‘commitment’ to clients, especially in human rights…” – 2014 Edition

Human Rights Immigration (Wales); Top-Tier firm 2015

– “Duncan Lewis Solicitors has ‘an excellent grasp of immigration and asylum law’. Vinita Templeton and Vanessa Delgado are ‘both deeply committed to their clients’ interests’, with Templeton being a specialist in immigration judicial review claims. The ‘thorough and conscientious’ Sian Pearce is also recommended.” – 2016 Edition

“Specialist immigration firm Duncan Lewis Solicitors is renowned for asylum and human rights work…” – 2015 Edition.

Human Rights Immigration (East Midlands)

– “At Duncan Lewis Solicitors, Sangita Shah regularly advises on immigration and asylum matters, and is commended for her ‘passion’ for her work.” – 2016 Edition

Business Immigration (London)

“… The team advises SMEs on compliance and sponsorship licence applications under the PBS. Clients recommend Ayan Yalchin and Vicash Ramkissoon.” – 2016 Edition

Fraud: White-Collar Crime (London)

“Praised for his ‘great client care’, Hardeep Dhaliwal leads the team at Duncan Lewis Solicitors, which recently acted in a £1m computer scam bank fraud case.” – 2014 Edition.

Family & Childcare (London)

“Duncan Lewis Solicitors has particular expertise representing divorce abuse victims under legal aid and have niche experience in Islamic divorce. Adeeba Naseem is extremely helpful.” – 2016 Edition.

“Duncan Lewis Solicitors has a very large legal aid practice, and is an ‘undoubted force in international children law’. Aina Khan specialises in Islamic divorce.”. – 2015 Edition.

Administrative & Public Law (London)

“At Duncan Lewis Solicitors, Toufique Hossain is a ‘genuine star’ for challenges in the immigration and civil liberties space.” – 2016 Edition

“James Packer and solicitor Toufique Hossain are key names at Duncan Lewis Solicitors, which has particular experience advising on immigration and civil liberties challenges.” – 2015 Edition.

Housing – Social Tenant (London)

“Duncan Lewis Solicitors have a young and energetic team that includes the very approachable Dianne Cowie and Subbiah Sivapunniyam, who specialises in possession actions. With several offices across London, its ‘tentacles spread out far beyond the reaches of traditional firms’ in this sector.” – 2016 Edition

“Duncan Lewis Solicitors expanded with the hire of Dianne Cowie (‘an excellent litigator with a wealth of experience’) from Fisher Meredith in 2015. The team attracts praise for its ‘forward thinking approach’ and standout expertise in possession and unlawful eviction cases. Practice head Subbiah Sivapunniyam is ‘courteous but forceful in raising issues on behalf of clients’. Solicitors James de Vere Moss and Bernadette Sylvester are also recommended.” – 2015 Edition.

Housing – Social Tenant (Wales)

“Headed by Heather Iqbal Rayner, Duncan Lewis Solicitors represents vulnerable individuals in a wide variety of cases against housing associations including disputes relating to anti-social behaviour and unlawful eviction cases. The team’s litigation expertise also includes judicial review challenges against public authorities.” – 2016 Edition

“Duncan Lewis Solicitors represents vulnerable tenants involved in possession and unlawful eviction cases. Heather Iqbal Rayner heads the team.” – 2015 Edition.

Court of Protection / Mental Capacity (London)

“Duncan Lewis Solicitors specialises in cases that overlap between mental health/capacity issues and deprivation of liberty safeguards. Angela Smith and Ravinder Brar are highly competent.” – 2016 Edition

“Duncan Lewis Solicitors specialises in cases that overlap mental health and capacity, and deprivation of liberty safeguards. Angela Smith keeps her clients ‘very well informed and always goes that extra mile” – 2015 Edition.

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Child Insurance Plans

3 Reasons Why a Child Insurance Plan is Essential

A child is a parent’s greatest joy. Being a good parent is a tremendous task. You worry about the well-being of your children. You hope that the decisions you make regarding your child are the right ones. You nurture your children into becoming responsible adults. If unfortunately something untoward were to happen to you, it is instrumental that you plan for the prospects of your family. You should equip your family with all the means to lead a comfortable life. It is better not to underestimate the needs of your family. To foster your child’s future prudently, it is essential you have a child’s insurance plan. Here are just three of the most important reasons why you need a good child insurance plan:

Something basic and essential that every child needs is an education. When it comes to educating your child you should not have to compromise. The further you educate your child, the better their prospects are. However, the price of education is on the rise. Private schools and good colleges sometimes cost a great deal of money. Having a child s insurance plan can help with the costs of educating your child.

There are simple things like extracurricular activities that your child may partake in. They may be budding sportsmen and women or young Picassos. You want your child to dream big and achieve those dreams. Do not let money be a hindrance to your child pursuing their passions. A child insurance policy will allow you to create a fund that your children can draw on for their benefit.

Your child will one day be married. On such a joyous occasion you will want the celebrations to be full-fledged. This is not a situation where you want to skimp on spending. It would be ideal if you were to sponsor all aspects of the ceremonies. If you have a daughter you must cover expenses like fine jewellery and an exquisite bridal trousseau. If you have a son you may want to contribute toward the nuptials. You do not want to find yourself in a situation where you are unable to afford your own child s wedding. This is truly a time of elation for your child. Do not let a lack of money get in the way of your child s happiness.

Your child may learn how to drive. You may want to surprise you child with a scooter, motorcycle, or car. It is important you have the means to account for such expenses. Your child will someday think of buying their own house. This is an incredibly important purchase and to encourage this kind of independence you may want to help pay for the property. Creating a corpus for your child is one of the greatest gifts you can give them. This is one reason a child insurance policies are indispensable.

The best thing that you can do for your child is to set a great example yourself. Children learn by example. Apart from Superman, Spider-Man, Batman, Wonder Woman and other superheroes, children idolise their parents. Children learn and emulate the behaviours they see in their parents, and it is important that we remember that they are impressionable young human beings.

The decisions you make as parents will have a great impact on the kind of people your children will turn out to be. It is common knowledge that you cannot be rash and reckless when it comes to your children. Buying an insurance plan for your child is a very sound decision. When children see you, their parents, using your good judgement, they too will make good decisions in the future.

The good news is that you can purchase an insurance plan for your child from HDFC Life. You can build a corpus for your child to draw from and teach your child fiscally responsible behaviours. The biggest benefit is that once you have a child insurance plan, you can ease your biggest tensions regarding your child s life and their future. Rest assured when you purchase an insurance plan for your child, you are making one of the best decisions possible regarding the well-being of your child and the rest of your family.

Assignment is the process by which the Policy holder (Assignor) transfers all the rights attached to the Policy to the Assignee.
There are two types of Assignments:
1. Under Absolute Assignment, the benefits of the Policy will be paid to the Assignee under all circumstances
2. Conditional Assignment, the benefits of the Policy paid will be subject to the conditions specified by the Assignor. Once the condition is satisfied, the Policy will revert to the Assignor. This is typically done to use the insurance policy as collateral for loan. Assignment has to be for a valuable consideration.
To know more on the assignment process, kindly visit any HDFC Life branch.

You can check the Fund Value of your policy under Policy Summary Section of My Account. To register for My Account, click here.

You may also register for the SMS on the Move facility, where you can check the policy Fund Value via SMS. You can register for this service by typing REG [space] [policy number] and send it to 5676727 (charges applicable as per the service provider).

To keep you updated about the performance of your policy fund, an Annual Unit Statement is also sent to your mailing address.

You may even check the fund value via our IVR service by doing the following: Select Option 1- Policy Information and Press 1. You may also use our Missed Call service by giving a missed call on 08000006609 and wait to receive the Fund value of your policy via an SMS text.

Our vision is to provide innovative and customer-centric insurance plans that can help our customers secure their family s future as well as help them with other benefits such as tax savings. Keeping this in mind we offer a large range of life insurance plans such as term insurance plan , women s plan. health insurance plans. pension plans for retirement planning , child education plans. ULIPs. saving and investment plans. Most of these life insurance policies are available online, so buy one today and Sar Utha Ke Jiyo!

HDFC Standard Life Insurance Company Limited. In partnership with Standard Life Plc. CIN: U99999MH2000PLC128245, IRDAI Reg. No. 101.

Registered Office: HDFC Standard Life Insurance Company Limited, Lodha Excelus, 13th Floor, Apollo Mills Compound, N.M. Joshi Marg, Mahalaxmi, Mumbai 400 011. Tel No: (022)67516666.

The name/letters HDFC in the name/logo of the company belongs to Housing Development Finance Corporation Limited and is used by HDFC Life under a licence/agreement

For more details on risk factors, associated terms and conditions and exclusions please read sales brochure carefully before concluding a sale. ARN: EC/06/2017/9792


IRDAI clarifies to public that

1.IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums.

2. IRDAI does not announce any bonus. Public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number.

3. Public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number.