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What Are the Benefits of Children's Life Insurance?

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    Guaranteed Insurability

    • Children with insurance are guaranteed insurability later in life with term insurance. This is beneficial, especially if health problems develop later on that would prevent them from getting coverage.

    Low Premiums

    • Whole life insurance gives coverage for the entire life of the child with premiums that will stay low no matter what health conditions develop.

    Safety Net

    • Policies accrue cash value over time that, if needed, can be used as an emergency fund for a child to withdraw money from or cash in.

    Financial Protection

    • If a child were to die, life insurance can assist with the cost of funeral arrangements and any lost wages during this time of grieving.

    Tax Free Savings

    • Money going into a life insurance policy for a child is like tax free savings, and if it ever needs to be borrowed against, a policy loan can be taken out which is also tax free.

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