Is it a good idea to buy life insurance on our kids?
Most parents need life insurance, but for kids life insurance is usually a waste of money.
The exception, assuming you have the resources, is if you are interested in guaranteeing
their future insurability. Otherwise, "what secures a child's future is
life insurance on the parents and the child's own college-savings fund," sums up
Making the Most of Your Money (Simon & Schuster Inc., New York). "Some parents
are persuaded to save for college in a cash-value, kid-insurance policy. But the cost of
the needless life insurance greatly slashes the return on investment. For a larger college
fund, put money into a growth mutual fund instead."