Life Insurance For Children, and the benefits that come with it.
As parents, making sure our kids have everything they need to grow, thrive and succeed is often the fuel we need to get up every day and go to work. Making sure they have the social skills, education and structure to pursue they’re dreams are responsibilities as parents we should all take very seriously. Our children are truly OUR future. From pre-school all the way through 12th grade we cheer them on and guide them in the right direction, so we can have our “proud parent moment” of seeing them walk across that graduation stage! Throughout this period, a lot of us know that we would like to pay for, or assist with the enormous cost paying for college, but a lot us don’t have a plan at all. Maybe you’ve been saving money all along or considered taking out loans or dipping into your retirement funds to help out. Either way, plan or no plan, it’s never too late to invest in your child’s future.
What if I told you there is way to have financial coverage on your child’s life and also be able to help pay for their college tuition at the same time? Life insurance for children is a way for us parents to be able to have coverage on our children’s lives financially (god forbid anything were to happen to them), as well as pay for their college tuition. Child life insurance is one of the easiest and budget friendly life insurance policies on the market. There are two types of coverage that can be placed on your children. Here is a breakdown of both types, and the benefits of each policy.
The normal growing up coverage
You can apply for this type of coverage for your child from ages 14 days until they are 14 years old.
Coverage starts at $10,000 — $50,000.
Coverage doubles automatically on the policy.
This type of coverage builds cash value over time.
This type of account is a great way to set up your child’s future
College plan policy
You can apply for this type of coverage for your child from ages 14 days until they are 18 years old.
Coverage starts at $10,000 — $150,000.
Payments are fixed and affordable
The growth of this type of policy will never lose it value.
There is flexibility when it comes to the use of the policy money
No matter what age your child is at this moment is it never to late to start planning for their future. At udecideit.com there are trusted local agents that will be happy to help you set up a plan for your child’s future.
