I don't think it is worthy to buy life insurance for kids or BB as they don't carry any liability likes adult.
In the worst case, no finanical impact would be caused to others.
Yes, the reason is good. But the point of BB life insurance is the cost of BB life is cheaper. For example, a life plan to be paid 10 years and protection last for life long.
For a HKD500,000 protection, the expenses for kid and adult may be 2 to 3 times difference. It's cheaper to buy when the kid young.
I agree, bb is dependent on their parents. No point to buy the protection. The objection of insurance is protect the people around you, they need your support. You love them and don't want to change their life style once lost supporter. Use the cost to buy insurance, the meaning is a little bit change.
I think baby insurance is a gift to the baby and also to their descendents. Only a small budget and the gift will be useful for the baby in future. Whatever the development of the baby in the future, they still afford a minimal protection to the kid's family, why not??
Yes, I think the point from a financial planner may be different to other professional. Your point is good too.
Personallly I don't think buying insurance as a gift to baby or child is a good idea. Practically, it don't give any benefit to the baby as explained earlier. The issue is neither whether the insurance is cheap or not nor the size of the protection.
On the other hand, considering 教育基金 for kids would be more meaningful. In that case, the insurance is to cover the risk for the parent, not the kids.
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