While it's important for parents to buy life insurance, there are also life insurance options for children. It seems like a logical decision -- now that you have a child, they should also be insured in case of death, right? But is it worth investing your money for kiddie life insurance? Policies are inexpensive, and insurance companies draw you in with tearjerker commercials and fear of the unknown in case a child passes away.
Experts overwhelmingly recommend is that it's not worth buying children's life insurance. Why? Policies mature very slowly for children, and a parent is more likely to die before a child. It's much smarter and financially responsible to make sure a parent is adequately insured rather than the child.