Covering child care costs
If one parent dies, the other may be left without the opportunity to work and care for the child. In this case, the insurance must cover the cost of caring for the child until they reach adulthood or find a job.
Possibility of receiving additional payments
Some insurance companies offer the possibility of receiving additional benefits in the event of death of one of the parents. These payments can be used to pay for child's education or other health-related expenses.
Selecting the type of insurance
There are several types of life insurance, such as term life insurance or permanent life insurance. When choosing insurance, you need to consider your family's needs and financial capabilities.
Risk assessment
The insurance company must evaluate risks and determine the likelihood that one parent will die before the other. This will help choose the most suitable insurance program.
Insurance cost
Finally, the cost of insurance is also an important factor when choosing a program. It is necessary to make sure that the price corresponds to the quality and covers all the necessary risks.
In general, parents of children with disabilities should contact life insurance professionals for advice and assistance in choosing the best plan for their families.
Source: https://www.bankrate.com/insurance/life-insurance/parents-of-children-with-disabilities/
Photos are from open sources.
