GUARANTEED FUTURE LIFE INSURANCE COVERAGE

Buying life insurance for your child when they are young and healthy will guarantee life insurance coverage for their future. If they develop medical conditions that might affect their insurability later, such as diabetes, obesity, high blood pressure, and cancer, they won't lose the coverage obtained when they were younger. Also, they won't have to take a medical exam if they are already insured.

Some children's life insurance policies have an optional rider that may be available at a minimal fee. As they grow older, they can get additional life insurance coverage above the current policy's face value (during certain periods and specific increments).

Children's life insurance ensures lifelong financial security for them, and when they have their own family, the coverage you get today will benefit their future generations.

AFFORDABLE POLICIES

Since you will be buying children's life insurance, you won't need a million-dollar policy. You can start with any amount between $5,000 and $15,000. A policy with such low amounts will be affordable.

CASH VALUE BENEFITS

Children's whole life insurance policies have a cash value component that builds up over time. And the longer you keep the policy, the more the cash value accumulates.

Your child can continue paying the premiums when they become the policyholder after 21 and borrow from the grown cash value. They can also surrender the policy and receive the accrued cash value to support them as they start their adult lives.

Whole life insurance for children has more lasting benefits. If you encounter financial challenges as your child grows, you can borrow against the policy's cash value, as long as you are still paying your premiums.

If you go for children's whole life insurance, ask about penalties charged for early withdrawals before your child reaches a certain age.

LOCKED-IN RATE

Life insurance for children is affordable. When you buy a policy for your child now, you will lock in your rate for the plan's life. The premium will remain the same no matter how long you have the policy. For instance, if you paid a monthly premium of $15 for a $15,000 policy, it will still cost the same in 20 years.

The affordability of children's life insurance makes it easier to fit into your budget and your children's in the future. Your children will enjoy coverage they won't have to pay for their entire lives.

Since life insurance policies vary among companies, it's always good to ask lots of questions to investigate and confirm what you want out of the policy. It will ensure that your children will get the full benefit of their policy even when they become adults. If you need help figuring out the right child life insurance for you, talk to us today. We'll help you find the policy that will safeguard you and your child's future.