3 steps to protect your children’s future

This guest post was created by Lynette Argent:

A parent’s work is never done, so they say. Of course, children are completely
reliant on their parents during the early years, but gradually they become
more independent, and one day they will leave the nest and perhaps become
parents themselves. But do we really ever stop relying on mums and dads in
some way or another, be it for emotional, financial or practical support?

Here are three ways to protect your children’s future while they are still young.

1. Life insurance
This is arguably the best way to protect your child’s future and provide
ongoing care for them if you die or fall seriously ill. If you take out life
insurance as a parent, you can be safe in the knowledge that in the event of
your death, your child is financially secure.

You can also consider taking out life insurance for the children themselves.
Insuring a child at a young age can offer a financial safety net to support the
family in the event the child dies, or becomes sick or injured.

In the shorter term, a life insurance policy for children can allow you as a
parent to take time off from work to care for a sick or injured child without
risking lost income. Other benefits include coverage for funeral expenses and
health care.

2. Save money
Insurance plays a crucial role in protecting your child’s future, but there is
more you can do to ensure they get off to a comfortable financial footing in
life. Even before they are born you can start a ‘trust fund’ with the purpose of
paying for college, starting a business, putting down a mortgage deposit or
anything else requiring a bit of financial clout.

And even when they become adults, after they’ve flown the nest and you may
have retired, it is prudent to keep a little bit of cash aside to help them out with
the various expenses that can creep up on us during our lives.

Another sensible idea to safeguard your child’s future is to invest money for
them – be it in stocks, shares, bonds or savings accounts.

3. Health
Financial security and job security is all well and good, but ultimately we
cannot reap the benefits of these things without good health. Therefore one of
the most important ways to protect your child’s future must be to instill in them

the benefits of healthy living, exercise and a good diet. Experts are frequently
emphasizing that your state of health when you are a child has a massive
bearing on your health as an adult – therefore surely it is imperative to set the
foundations of a long and healthy life when your child is young. Then, you
can fall back on that insurance and those savings should anything further go
wrong.

This guest post was created by Lynette Argent at Million Dollar Woman,
Million Dollar Woman offers both Life Insurance and Sickness Insurance all
designed to meet the unique needs of women.


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