One of the most tragic events in life is when a parent dies and leaves behind young children. What’s even worse is when both parents die and a young child is left as an orphan – this can happen more often than you would think. One of the most common causes of sudden orphaning is automobile accidents, in which it frequently happens that both parents are fatally injured in the front seats while a young child survives because they are in the safer, more protected back seats.
Not only is this a human tragedy, it can be made even worse if the child is left with no money and no relatives to care for him. Even if there are relatives who will take him in, it will put a financial burden on them, which can cause tension even when people have the best of intentions. For this reason, it is imperative that you buy a life insurance plan if you can afford it (try Life Shield HQ). This will provide your child or the relative who raises your child with a trust fund to draw from to support the child and eventually pay for his or her college.