If you are 14 weeks pregnant, you may be pondering over the idea of purchasing a life insurance policy for your newborn. First of all, can you purchase a life insurance policy for a 0 year old child? Yes, you can. In fact, millions of Americans have already done so. The next question is, is it a good idea to do so? You will find people who believe there’s nothing better that you can do for your child and your family, as well as there are those who will say it’s the most futile idea that you could have. In this article, we will state our point of view, based on the opinions of many people who were covered by this type of insurance during their childhood.

There are myriads of adults who were covered by their parents with a life insurance policy when they were newborns or children. They say many good things about being a holder of this type of policy. Following are the main benefits that they see in it.

First, as adults they won't have to pay expensive premiums. Think about it, when your child becomes an adult with their own family, they are likely to want to purchase their own life insurance to protect their family, but if they were covered as children, now they won’t have too. By the time your child is an adult the rates for life insurance will have already increased drastically, and that can make insurance premiums costly for them then. Some people may not be able to afford these high rates. If you provided your child with newborn insurance, the low initial rates will stay as they were. Their peers may have to pay twice more for the same type of insurance.

The second benefit that those insured as newborns are stating is the huge cash value on their policy that they obtained in their adult life. The newborn or child life insurance benefit amount will typically double by the time a person turns 20. The accumulated cash value can help an insured person get into one of the best colleges, or merely pay their bills when they have no money.

Lastly, people that were insured at an early age are very grateful that their parents had provided them with life insurance when they were children. They feel gratitude to their thoughtful parents to have thought so far into the future. Typically, life insurance for children has been somewhat of a taboo subject. Now, many parents are starting to see life insurance as a worthy investment for their children, rather than a morbid subject.

Child and newborn life insurance come at the lowest rates that anyone can find on the life insurance market. As long as you keep paying the premiums for your child’s life insurance regularly, these rates will be locked in forever, and the cash value will keep accumulating. All in all, purchasing life insurance for a newborn may be one of the best decisions that a parent can make for their children.