Life Insurance for Children or Grandchildren

Why buy Life Insurance for a child or a grandchild?  Unlike money kept in savings plans for children, such as 529 college savings plans, a Juvenile Life Insurance policy’s cash value doesn’t have to be used specifically for education.  It can be used by a grown child for other purposes such as wedding expenses or starting a business.

We want to work with parents to help insure a valuable resource-our next generation.

If your goals are to:

·         Provide a child with a source of potential funds to be accessed when they get older

·         Help protect the future insurability of a child

·         Keep premiums as low as possible by starting coverage early


When Holly and Tom became parents, they received a non-traditional gift for their daughter Samantha.  Tom’s parents had purchased a Life Insurance policy for her.  And although the birth of a child or grandchild may not have you thinking about life insurance, it provides a great foundation for their future.

Permanent Insurance may be for you

The time to get coverage for your child is now.  Waiting just a few years to start insurance coverage can be costly for both you and your child.  The earlier you begin, the lower the costs and the longer the policy has to accumulate cash value.  In addition to higher premiums, the cash values that build up in the policy over the years will be lower if you wait to start the policy-even if you wait only a few years.

An additional bonus is that children who have permanent, cash value life insurance won’t have to worry about qualifying for a policy as an adult.  A juvenile life insurance policy guarantees future insurability of the child, regardless of their health, lifestyle or residence, and is issued without a physical exam.

A well thought-out life insurance portfolio for your child or grandchild can have significant advantages:

Important Case Accumulation: The earlier the policy starts, the longer the policy has to accumulate value.  As your child grows, so does the cash value of the policy.

Guaranteed Insurability: As an adult, your child’s health or occupation may prevent them from qualifying for life insurance.  A properly designed juvenile life insurance policy can ensure coverage for your child or grandchild.

Cost Savings: The earlier the coverage begins, the lower the cost may be.