The Cost of Raising a Child AKA Why You Need Life Insurance

Each year the government (the USDA to be exact) publishes how much it costs to raise a child to 18. The number is staggering. It’s more money than most of us can imagine coming up with, which is why life insurance is so important. You can cover that sum—$233,610—for a modest monthly premium. A healthy 30-year-old, for example, can get $250,000 of term life insurance coverage for 20 years for about $13 a month. That is a small price to pay for both peace of mind, and having your child be OK financially if something were to happen to you.

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Source: United States Dept. of Agriculture, January 2017
  1. Absolutely. Covering my kids, so that they can go to prestigious (i.e. expensive) colleges and so that my wife will be able to support them in getting there is why I have life insurance. No other reason.

    1. You can click through the link to the government website and get the JPEG of it. Given that it’s a .gov you should be able to print it via a Kinkos or likewise without copyright issues.

  2. Great idea! Holidays and gift-giving occasions are the perfect times to consider purchasing life insurance for loved ones.

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