Give the gift they’ll never outgrow
What if you could give your children or grandchildren a head start on lifetime financial security … and a legacy by which they’ll remember you with appreciation throughout their lives?
More and more, financially savvy parents and grandparents are remembering the special occasions in their loved ones’ lives with the gift of permanent life insurance. Yes, life insurance.
Why? Because there may be no better foundation for a lifetime of financial protection and security. Consider these benefits of permanent life insurance for a child:
A lifetime of protection. A permanent insurance policy may be purchased as early as a child’s first year. As long as premiums are paid on schedule, the insurance purchased for a child will be in place when he or she reaches adulthood — to provide essential financial protection for his or her own spouse or family.
Guaranteed insurability. Once a policy has been issued and as long as premiums are paid, coverage cannot be cancelled by the insurer — even if your child should develop a health condition that would otherwise prevent coverage. And with an available option to purchase additional insurance, coverage can be increased to meet future needs, with no medical examination or other evidence of insurability required.
Locked-in rates. Many adults attempting to purchase life insurance discover that existing health conditions significantly raise the cost of premiums. By purchasing permanent insurance for a child earlier than later, you can lock in rates for the life of the policy.
Financial support in event of loss. No parent wants to contemplate the loss of a child. But for the parent who purchases a policy for a child, insurance provides a death benefit that can be used to help cover unpaid medical bills, funeral costs, travel and other expenses — and provide income support in the event the parent needs to take time off from work.
A foundation for financial security. Permanent insurance accumulates cash value that can help meet a financial need, if necessary.*
Perhaps the greatest benefit of purchasing permanent insurance for a child today, though, occurs when a parent, grandparent or guardian one day transfers ownership of the policy to the adult child — who will then enjoy guaranteed insurability and financial protection for his or her own beneficiaries.
Your First Command Financial Advisor is ready to assist you in the important decision of providing insurance protection and a financial head start for your child.
*Cash value of permanent insurance increases annually as long as premiums are paid. Cash value may be accessed through policy loans, which accrue interest at the current rate. Loans will decrease the death benefit and cash value.
This is a description of representative services and coverage, not a statement of contract. Provisions differ by state — see policy for details.