Ieuter Insurance Group Blog

All You Ever Wanted to Know About Insurance

Why Buy Life Insurance on a Kid?

No one ever wants to think about buying life insurance on a child.  But here is why you should: the future insurability of a child. Even with no family history of any illnesses, we can give you countless stories of young children who have come down with Type I diabetes, cancer, etc. It sounds awful, but it happens every day. 

When that child  gets older and tries to purchase life insurance to protect their family, it may not be available or could be very costly. If you start a Whole Life or Universal Life policy on your child with the guaranteed purchase option there will be no issues.  The guaranteed purchase option allows you to buy higher limits at set points in their life without proving insurability. These policies are typically less than $10 a month.  Plus these policies build cash value that can be cashed out at any point in their life.  So don’t even think about the worst case scenario when buying life insurance on a child, consider protecting your kids future family with a small life insurance investment today.  Call your friends at Ieuter Insurance Group at 989-835-6701 to start a policy today.