One thing that every parent/grandparent/aunt/uncle do the most of,
but don't think of the what-if affect?
The safety of our children. You do everything you can to protect your child(ren), and their future. That is why life insurance is important at a young age. Getting a policy for your child at the earliest age means you could have lower premiums, and more time to build cash value than if you were to wait later on in life. A built-in Guaranteed Purchase Option Benefit provides an opportunity to purchase more life insurance at certain times down the road without needing to complete a medical exam or provide proof of health.
Why purchase life insurance for children?
- Cash Value
- These policies often include a cash value component that grows over time and can be accessed by the child in the future for any financial needs.
- Guaranteed Insurability
- Juvenile life insurance ensures that the child has coverage for life, regardless, of the future health changes.\
- Wealth Transfer
- Policies can be transferred to the child when they reach adulthood, allowing them to manage the policy and its benefits.
- Fixed premiums
- The cost of the policy is locked in at the child's current age, making it more affordable of time as premiums do not increase.
What DreamSecure Children's Whole Life Insurance options are available?
It can be easy to find Children's Whole Life Insurance policy that fits your life, and your budget. American Family Life Insurance Company offers three coverage levels:
- $25,000
- $50,000
- $75,000
We have two payment options:
- A 10-year payment option:
- a slightly higher premium, but you could pay it off before you child ventures out on their own
- A 20-year payment option:
- will be fully paid in 20 years
- because the premium is stretched over 20 years, they will be lower than the 10-year payment option.
Whichever option you use; your premium option will never increase.
Once the payments are done, the coverage is there for their whole life.
If something happens, and you can't cover the payments, it'll pull from the coverage, until you can pay it again, so you won't have to worry about not losing the policy.
With the Guaranteed Purchase Option Benefit:
- additional coverage can be purchased on the child with no medical exam required
- it can be added at specific ages or when major life events take place including:
- getting married
- becoming a parent
- buy a house
This makes it easy to get the coverage they need at different ages and stages of life.
Hope this helps with taking the next step to secure your child's needs and future!
Most insurance companies are pushy, and only want to make the sales. Mike is amazing at what he does, and makes you feel like you are part of his family. If you have any questions, his office is straight to the point and are very helpful. 10/10 recommend giving them a call and letting them help you make your insurance needs easier.
Check out their directory on our page: https://johnsonin.macaronikid.com/directory/66b387a80504715f22ba9165/american-family-insurance_-mike-downey-angency
