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Q: I agree with a majority of the story but I do not agree with you saying not to buy insurance for your kids. Yes, I do believe that you don’t need a lot of insurance for your kids but some is good idea. $50,000 to cover final medical expenses and funeral cost also If my child passed away I don’t think I would be going right back to work any time soon. With the average funeral costing between $8,000-$12,000 you cant tell me that paying a few dollars a month is a bad idea? Please let me know what you think?
A: Hi R,
I’ve gotten a whole bunch of mail on this topic, much of which agrees with you: that buying insurance on kids is a good idea. While I’ll stick to my guns on this and say that I still don’t think it’s the best use of savings, I will concede that a few bucks a month (or even year in some cases) isn’t going to hurt anything, and if it gives you added peace of mind, then you should do it.
Thanks for writing and for watching!