Life Insurance for Children
Because even the smallest lives deserve big protection child life insurance helps your family stay ready for anything.
Thinking about child life insurance? Learn what it covers and decide if it makes sense for your family.
Reasons to get a child life policy.
Life insurance is typically linked to income earners, but there are valid reasons to consider it for a child as well. That said, child life insurance isn’t one-size-fits-all it’s a very case-by-case decision. That’s why it’s important to speak with a trusted advisor to determine if a child life policy makes sense for your family’s unique needs.
What does a child life policy cover?
Child life insurance is typically a whole life policy that begins early—offering lifelong coverage from a young age. In the tragic event of a child’s passing, this coverage can help with funeral expenses, grief counseling, and lost income from time off work costs that can place a heavy burden on families already facing unimaginable loss. While no one wants to think about losing a child, having this protection in place can provide a financial cushion during a time when emotional healing should come first.
Is child life insurance an option for you?
How important these benefits are really comes down to your finances, what you’ve already set aside, and your personal outlook on risk.
Child life policies may be used as a form of savings.
Child life insurance can also serve as a form of savings especially when planning for future expenses like college. Many policies build cash value over time, which you can either withdraw (often with a fee) or use as collateral for a loan. In most cases, this cash reserve grows at a guaranteed rate, though the specifics depend on the terms of your individual policy.
Makes transitioning life insurance easier.
Starting a child life insurance policy early can help secure their future insurability.
If your child develops a medical condition later in life, having a policy in place now could make it easier for them to maintain coverage as an adult. Many policies also come with added perks—like locked-in rates, coverage without a medical exam, and even discounts on future coverage options. Want to explore if a child life insurance policy is right for your family?
👉 Contact us today to review your needs and available options.
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