Why Child Life Insurance is a Great Investment.

As a parent, life insurance for your child is probably the furthest thing from your mind. You have other decisions to think about like college funds and savings or a life insurance policy for yourself. The thought of talking about life insurance is probably like the sound of nails on a chalkboard, at least it was for a friend who is near and dear to me.  Thankfully, we discussed the need, and she decided to purchase child’s life insurance for her son who was just an infant at the time. Child Life insurance

When Child Life Insurance Hits Home

At the time, he was a healthy child and it was inexpensive and easy to obtain the coverage. Then, at the age of 7 years old, he was diagnosed with a devastating illness. Trying to get coverage post diagnosis would have been a challenge. He may not have qualified, and the cost may have been higher due to a now pre-existing condition. Unfortunately, this wasn’t the first time I’ve seen this happen.  It has happened to several families close to me. I want to share this with as many parents and grandparents so that they can avoid this very unfortunate news. 

Securing child life insurance early on allows you to lock in your child’s insurability and to purchase coverage at inexpensive premiums.  The time to take action and secure their eligibility is now. 

Child Life Insurance Options

Did you know Auto-Owners Insurance Company has incredible products to meet your child’s life insurance needs?  When you obtain child life insurance through Auto-Owners Insurance Company’s Simplified Issue Whole Life policy, your child will have a policy amount that increases 50% automatically at both ages 18 and age 25 without a premium increase. The coverage, premiums, and the cash value is guaranteed to age 110. The greatest benefit: premiums never go up!  This product can be issued when the child is between 15 days old and 17 years old.  Auto-Owners has a great Whole Life policy for children that are over age 17.  They also offer different payment options including, a single paid in full payment or paying the premium for ten years. Once the premium is paid in full, your child/grandchild has a paid-up policy for life. Just think, now your child will not have to pay high monthly premiums on their life insurance, you took care of it for them! 

Help them with their financial planning and security.  Who wouldn’t want that for their child?  It is so important to invest in them and their future. What a wonderful, insightful gift you can give to your child or grandchild to protect their insurability. A gift that keeps giving!

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