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A Gift to Remember

Bibs. Cribs. Teddy bears and knitted blankets. The gifts pile up when you welcome a little one into the world. But, one very important gift is often forgotten: life insurance.

A little known fact is that life insurance is just as important for children as it is for adults, but for different reasons. For instance, with an infant you don’t need insurance to cover loss of income they earn. But purchasing life insurance for a child can help guarantee financial security for them and their future family. Here’s how:

It will guarantee insurability 

You never know what tomorrow will bring. In the unfortunate event that your child develops an illness or medical condition, they may become ineligible to purchase life insurance at a reasonable rate. Purchasing life insurance for your child guarantees the insurability of the individual for life. If your son or daughter does become uninsurable, they will already have and be able to keep the coverage from the policy you purchased.

It can help financially protect your family 

We hate to think about losing a child. But the reality is, sometimes it happens. While losing a child doesn’t result in the loss of income, it can cause a financial strain. Funeral, burial and related expenses can run thousands of dollars (during a very emotional time). Purchasing a life insurance policy will help to ease the financial hardship.

It’s the easiest time to do it

The easiest time to buy a life insurance policy is when the child is first born. Unless your son or daughter is born with a medical condition or there are complications at birth, the process of obtaining a life insurance policy is quick and simple for a child.

Also, premiums are at their lowest. Compared to an adult policy, a whole life or universal life insurance policy for a child is an affordable way to provide the same lifetime coverage.

Give us a call if you’d like to know more about making this important purchase. We can explain all the details, making it easy.

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