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If you plan to take out a life insurance policy for your child, then you may want to give whole life insurance policies a second look. With most whole life insurance policies, you should be able to get your child a low rate that they can carry throughout life. Keep in mind that your child's death benefit needs will change as they grow older and create a family of their own, so getting a large policy may be in their best interest.
|Jennifer Mathes, Ph.D.|