At every stage of your child’s life, you are constantly looking towards the future. Looking for ways to prepare for expenses and ways to protect them. As they grow up they require different protection, even when they aren’t children anymore.
Dentists, falls from bikes and sick stomachs are more than common among children. Purchasing health insurance for your children, or including them as dependents on your employer health coverage provides protection in case of costly doctors bills or trips to hospital.
Let’s face it – children cost money. Having savings in place for expenses like first cars, graduation, college means you’re financially capable to cater for these milestones. Protecting these savings with Federal Deposit Insurance will guarantee your savings won’t take a hit if anything were to happen to your bank.
Purchasing life insurance for yourself and your spouse is guaranteed protection in the event of serious illness or death. Rather than burdening your children with the cost of mortgages or funerals, you can ensure they won’t face any financial hardship if anything were to happen to you.
Wills aren’t often seen as a form of protection, but they can be. Having a clear, legally binding document with detailed instructions in the event of your death means there can be no doubt of inheritance or ownership of your estate. Having a will in place eliminates the need for drawn out and costly legal consultations and ensures the right things go to the right people.
Whether they’re five years old and learning to ride their first bike or they’re 18 and going away to college, there is always some form of protection available for your children. Purchasing the right insurance and always looking ahead to the future means you can be prepared for whatever happens.
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