How much life insurance should both parents have if they want to buy life insurance for their child?

Noveau

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How much life insurance should both parents have if they want to buy life insurance for their child?

The general rule is that a parent should have twice as much life insurance coverage than the child. For example, if the parent applies for $50k of coverage for the child (age 17 or less), then the parent should be covered with at least $100k. But what if there are two parents? Should each parent be covered for at least $100k, or should the sum total of their insurance be at least $100k as an example each parent should be covered for at least $50k?
 
How much life insurance should both parents have if they want to buy life insurance for their child?

The general rule is that a parent should have twice as much life insurance coverage than the child. For example, if the parent applies for $50k of coverage for the child (age 17 or less), then the parent should be covered with at least $100k. But what if there are two parents? Should each parent be covered for at least $100k, or should the sum total of their insurance be at least $100k as an example each parent should be covered for at least $50k?
I'll go with Sti. :yes:

 
How much life insurance should both parents have if they want to buy life insurance for their child?

The general rule is that a parent should have twice as much life insurance coverage than the child. For example, if the parent applies for $50k of coverage for the child (age 17 or less), then the parent should be covered with at least $100k. But what if there are two parents? Should each parent be covered for at least $100k, or should the sum total of their insurance be at least $100k as an example each parent should be covered for at least $50k?
AIG, Family Life and Columbian all require 2 times the amount on the child on the parents. AIG says, "head of Household not parents. If there are other children in the household, most companies will require the same om each child.
 
but really....did not know that it was a rule that the parents had to have life insurance on themselves to take out a child policy....the only rule I know of is insurable interest......
 
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