Three Reasons to Consider Life Insurance for Kids
A message from Credential Financial Strategies Inc.
Is life insurance for adults only?
Not necessarily. Here’s why:
1. Guaranteed Insurability
By purchasing life insurance for a child now, you guarantee that he or she will always have coverage in the future. Even if the child develops a health problem and becomes uninsurable as an adult, he or she will still be protected.
2. Lowest Rates
Because premiums increase as a child ages, you’ll always pay more for insurance later in life. A life insurance contract purchased now gives children an edge in life, because they’ll spend less on insurance when they become adults.
3. A Smart Gift Idea
Place a term life insurance contract in a safety deposit box and give it to the child when he or she is older. Or, purchase a cash value whole life policy which earns compound interest tax free, and can provide the child with funds for college.
For assistance in determining the right insurance protection for children, call Jennifer Seib, your Credential Financial Strategies Representative, today at (204) 571-3856 for a no-cost, no-obligation consultation.