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Life insurance for parents of small children

According to the study, American families spend $237,482 over 18 years per child. This includes not only education but everyday expenses as well. Thus, when purchasing a term life insurance policy, one should consider this amount as the main benefit, writes the online publication CPA Practice Advisor.
Life insurance for parents of small children

According to data from the US National Center for Educational Statistics, for the period from 2000 to 2021, the average tuition fee has increased by 69%. The price tag for education (4 years) is now almost 143 thousand dollars.

When purchasing a policy from a life insurance company you will receive an individual calculation of a certain amount to be monthly transferred on your account in the LIC. It is usually not a lot of money. However, it is impossible to accurately answer the question about premiums, since their size depends on many factors, such as age and health of the insured person, the chosen type of insurance, profession, lifestyle, and the insurance amount.

Source: https://www.cpapracticeadvisor.com/2023/10/11/life-insurance-planning-tips-for-parents-and-caregivers/95715/

Photos are from open sources.

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