Financial Planning for Children With Disabilities –

cheerful girl sitting in disabled carriage
Photo by Meruyert Gonullu on

When it comes to planning financially for children with disabilities, it’s usually difficult as most parents don’t know their children are going to be disabled until birth. Most parents are recommended to get life insurance which includes long-term disability group insurance so that their children will be taken care of in case of an accident. During your child’s adolescence there are tax breaks that help with regards to funds for the disabled. Most public education states stop allowing disabled children into school at the age of 22. After that age, disabled individuals have access to federal assistance programs like Medicaid and Social Security benefits.

Key Takeaways:

  • It’s nearly impossible to know ahead of time if your child is going to be disabled before they’re born in most cases. If you do know that, try to get your finances in order instantly.
  • Life insurance is recommended, especially long-term disability group insurance because in case of death, the child would still be taken care of.
  • The maximum age for public education is typically between age 20 and age 22. Once out of school, disabled individuals can qualify for assistance from the government.

“raising a child from birth to age 17 costs upwards of $230,000 on average”

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