Why Get Life Insurance For Children or Grandchildren?
It may seem life a waste of money, or even disrepectful, to purchase life insurance for children. But we can come up with lots of good reasons to buy a life insurance policy for a minor. • Kid’s Life Insurance Is Cheap! One of the most important factors in determining a life insurance premium is age, so you can buy a permanent policy and lock in a really low rate! • Guaranteed Coverage Later! Many Life Insurance Companies Allow Guaranteed Purchases at Set Intervals with No Evidence Of Insurability. If the child grows up and does develop a health issue, they will also have a place to purchase more life insurance. • Use To Save Money! Cash Value Policies Can Have Time To Build Value For College. Some whole life and universal life insurance policies can be used as savings vehicles, as well as life insurance.
