Understanding the Different Types of Insurance for Children?

Answer 1

Adults are not the only ones who need insurance. Just like adults, children can have health insurance, life insurance and dental insurance. These insurance policies protect the health of the child as well as the wallets of their parents.

Insurance Offered By the Federal and State Government

While many parents are able to add their children onto their health insurance plan, not every parent is so fortunate. Parents who are uninsured and cannot afford private insurance might be able to insure their children through Medicaid or the Children's Health Insurance Program (CHIP). Both of these programs are available to low-income families throughout the United States. However, CHIP has more lenient income requirements and accepts families who earn too much to qualify for Medicaid.

State governments also fund health insurance programs for children. While looking for insurance, consider both state- and federally-funded insurance to determine which policy best meets your family's needs.

Life Insurance for Children

In addition to health insurance, it is also possible to get life insurance for children. These policies are usually very affordable and can be converted into cash once the child has reached a certain age. Most parents choose to purchase child life insurance for three reasons. The first reason is to protect their finances should the unthinkable happen. The second is to save money for college or future expenses. Lastly, purchasing child life insurance ensures that the child will be able to have life insurance as an adult, even if he or she should develop a serious medical condition.

Dental Insurance for Children

Childhood is a critical time for the development of the teeth. Yet, many children lack dental insurance, and as a result, they also lack proper dental care. Fortunately, both private and government-funded dental insurance is available. Children who qualify for Medicaid or CHIP will qualify for dental insurance through these programs.

Families who do not qualify can purchase private dental insurance policies for their children. These policies help families afford routine cleanings, fluoride treatments, sealants and more expensive procedures. This ensures that a child's teeth are properly cared for and protects against future dental problems.