I've stated this in much earlier threads, and while I can't speak for the reasons the Harris' insurance policies, my husband and I have life insurance policies on all four of our children, and will the 5th, as well. $50,000 Lifetime policy. We have many different reasons for having them. First, the unthinkable. Second, they are very cheap if you open them at birth. Since we have them all through the same company as our homeowners insurance, car, business, etc insurance policies, we get a "discount" off of another policy... and at less than $10/month each... making them essentially pay for themselves. Third, my oldest son now has a preexisting condition that would affect his ability to obtain life insurance at an affordable price as an adult. He can continue to pay this same $10/month and keep his policy for life. We got the $50,000 because the price difference per month between the $25K and the $50K was mere cents at birth.
We feel like it's our personal fiscal responsibility to be prepared for whatever life may hand us. However, we do own a business and have more insurance accounts than most people do, making it a feasible option for us. If the unthinkable happened, they might as well go ahead and dig two. I simply cannot image and pray I never will. In no way am I exonerating RH or LH by this post, but rather trying to shed light on why some of us might have such policies.
