In the wake of NHS mishaps, more and more people are turning to life insurance to safeguard both their health and provide cover in the case of sudden death. This trend is not localised to adults alone, rather parents and parents-to-be are taking out life insurance for their unborn, new born and young children alike.

On the one hand it seems the responsible thing to do, as the cover will ensure you’re blessed baby is covered in the event of an illness, whether it was contracted in the womb or in an incubator. Similarly if a young child’s cold turns colicky or worse still becomes as chronic as a coronary, you'll be comforted by the peace of mind that comes with knowing your child will have access to the best medicine your money can buy and not have rely entirely on the limited capabilities of the NHS.

In the arena of life insurance child life insurance specifically, the rates are significantly lower than that of their adult counterparts, making it a more affordable option, one that could quite literally save your offspring’s life.

It is an uncomfortable and unfortunate truth but death is all around us and it isn’t sensitive to age. So when it comes to the life and death of your child surely you’d want the best, regardless of when that catastrophe comes-a-knocking!

Where some see immorality others see an economic instrument, life insurance as an economic instrument, one that provides a comfortable cushion in an uncomfortable situation. If all the scans and check-ups have provided positive assurance that the baby is healthy, then it can be argued that the value of life insurance on a newborn baby is somewhat questionable.

Considering that life insurance is taken out by working individuals to provide a financial nest egg for their families were the worst instance to befall them be it permanent injury, illness, unemployment or sudden death. With the financial footfall made available to their family they can continue to pursue the lives they are accustomed living despite the misfortune of the working member. Keeping that in mind, surely you have to question the impact a non-working newborn infant would have on the family’s finances.

The majority of experts advise against taking out life insurance for infants for a number of reasons, mostly because of the above mentioned but also because the face value of the policy is low.

Many are under the impression that by taking out term child life insurance they are actually getting a ‘two for one’ deal; they are covering the health concerns of their children as well as providing a nest egg for their future, possibly for university or a down payment on a property. The latter being an attractive, affordable thought pattern especially with the rising costs of property purchasing.

However it has been shown that further education plans prove to be better financial instruments for some, especially when combined with the taking out more insurance for themselves which has the added benefit of immediate tax benefits.

That said there still remains a selection of experts that hail the benefits of the child life insurance scheme, as long as parents are fully informed prior to taking out the policy. So prior to signing on that dotted line, it is essential that parents are aware of the options available and are specific on their desires and expectations of the cover so they are not swerved by the opinions of a salesman who will essentially attempt to sell you a product regardless of whether it is the most suitable for your needs.