SELLING LIFE INSURANCE ON KIDS IS A SCAM?
May 14, 2026 by Sheryl J. Moore
“SELLING LIFE INSURANCE ON KIDS IS A SCAM.”
I have heard this probably at least 100 times over the past 27 years. I never have understood it. Even less so now.
You see- the first time I did hear this, I had already purchased life insurance on my (first) three young children. As a single mom, no less…
The financial planner I was speaking with was telling me stories of unscrupulous life insurance salesmen that made “big commissions.”
“Anyone who tries to sell you life insurance on those babies is a scam artist.”
He must know better than me?!? He was a financial professional. What did I know? What should I do? Did I need to cancel the life insurance policies? I didn’t know…so, I did nothing.
BUT-
What I DID know was that I had purchased the participating whole life policies with the intention that they would help me fund my childrens’ college educations. THAT is what was SUPPOSED to happen.
What ACTUALLY happened is that my oldest child and only son (at the time) ended his own life. At the age of 16-
Goodbye college.
Goodbye opportunities.
Goodbye to growing up.
Goodbye my son.
All I can say in hindsight is that I am GRATEFUL I had the life insurance-
While choosing the casket…
While selecting music for the service…
While going through photos for the video…
While determining which flowers AJ would have loved most…
Thank MY GOD that I bought the life insurance on my three little babies. Thank God that I did. And thank you, John Carter, for selling me the life insurance when I thought it was too expensive.
I don’t know what I would have done without that life insurance policy on my son. -sjm
