As we were driving across the country on Thursday, I was following the toddler dad court proceedings on my AJC app on my smart phone. I was literally gasping and muttering to myself “Oh no. Oh no.” Michael was like “What are you reading?” One of the many surprising revelations that came out was that the family had life insurance on their son.
From AJC.com:
He held $27,000 in life insurance on Cooper and, from jail, talked with family members about how to collect on it, according to search warrants released Friday.
The Associated Press followed up with an interesting story about life insurance on kids. If you’re wondering: Life insurance on children represents less than 1 percent on the total insurance market. Translation: Not many people buy it.
So my questions are: Do you have life insurance on your kids? If so, why did you get it? Do you think it’s odd or just parents wanting a product the kids could cash out later? What do you think this indicates in this case?
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