Do You Want Term Life Insurance for Your Child?

If you want to buy a significant amount of life insurance for your child, it has to be a permanent product. Most financial advisers aren't insurance agents. Are you going to open a custodial account for your child? There'rs some significant problems with trying to open a separate account that has your child's name on it. Your child is not competent, legally speaking, to sign contract. And there are some horror stories through history of people opening one of those accounts and being the custodian.