<p>Sadly one of CC's parents very recently lost their child.</p>

<p>We have a single child, now grown (?) at 25, working (sort of), good job and position.
However when he was in his teen years, I came to realize that no matter how smart parents can be, how smart the children may be, or how much $$ or lack of; Parents will have relative little future control. </p>

<p>We had setup an UGMA for DS at birth, which had grown to a considerable amount to cover his college costs. I realized that at 18 we could lose control of the funds and definitely must give control up at 21. Other tax advantaged programs for minors, Coverdales and 529s have the + and - and have similar issues. </p>

<p>I came to the conclusion, without consenting with DW, that various personal insurances should be established on DS. I may not be able to prevent bad choices but I could prevent other parents from anguish. </p>

<p>There is no good way to express the sorrow of parents who lost a child. The next good option is to place "insurance' on the child when you still have some control of the situation.
Costs are minimal but time window is closing for those who will have children go out-of-state schools or work.</p>

<p>LongPrime, I think I am in the afternoon doldrums but I'm sorry I don't follow. One of our CCers lost a college aged child? That is horrific.<br>
What you are saying is that if you have UGMA or other accounts you should establish life insurance policies on college aged "kids"?<br>
Can you elaborate for the dense among us?</p>

<p>Okay I just found and read the other thread. now that I get what prompted it can you explain a bit more what you are recommending LongPrime?

<p>I don't understand why one would insure a "child" who has no dependents and debts/obligations. I do understand purchasing it to pay these things off but maybe I'm missing something?
I did read the very sad thread about the young man who recently died but don't see how insurance would have made any difference.</p>

<p>There was something about student loans and lenders trying to collect while the kid was still in a coma.</p>

<p>Not at all related to the other post, but in general a college aged student can usually obtain a cheap 20-30 year term plan or even a fairly inexpensive lifetime plan BEFORE they take up dangerous hobbies or experiment with smoking or other stuff or get any sort of health or lifestyle complication. They can lock in a preferred best rate that sticks with them no matter what comes after.</p>

<p>This is nothing to do with the terrible car accident death, the money would likely be meaningless to a parent, but a parent could lock in that protection at a young age which would benefit a DS/DDs future family and could do it for a lower price for many kids.</p>

<p>My take is different from, Somemom, in that a parent can create living memorial. </p>

<p>This child apparently died instantly.</p>

<p>The child that briefly survived and then died has some final expenses that will be billed. Can you imagine how that set of parents will feel, when they see the hospital's and doctor's bill? on top of the knowledge that their son also caused the death of 3 others? </p>

<p>If your child had a premature death, What would you do if there was insurance money?:
Perhaps a scholarship endowment? Money to hire people to locate the person who sold the cocaine? Funding of a memorial (The terminus of my bike ride is a memorial of benches, a flag, a plaque describing this young man dedication to bike riding and to the USNavy Aviation, roses) . More police patrols? Intervention programs to help other parents save their child?</p>

If your child had a premature death, What would you do if there was insurance money?: "</p>

<p>Pay off debts related to their college.</p>

<p>Fund some kind of a program in my child's memory.</p>