Ieuter Insurance Group Blog

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Life Insurance and Your Kids

No one wants to think about losing a child, but that is NOT why you should consider buying life insurance on a child. Future insurability is my number one reason. When you child gets older and has a family, what if they can’t get life insurance? How do they protect their family or spouse? If you buy a policy now that guarantees additional life insurance at set ages, your child, no matter what health they are in, will be guaranteed that they can protect their family, your grandchildren!

Here’s a true story for you: just this weekend a five year old girl that had one of our life policies from her parents was diagnosed with diabetes. Her $50K policy with set buy ups will allow her to have $250K in life insurance when she gets older - without having to be rated for her condition. They had no previous family history of diabetes. Think about all those sad, but real, stories about young kids getting cancer. Although many may win the battle, they likely won’t be able to qualify for life insurance later on.

So next time when the topic of life insurance for your child comes up, think of it as an investment in their future. Worst case scenario is that they can cash out the cash value and invest in their first home just like I did with the policy my parents bought me when I was young.