Insurance for kids
Insurance For Kids – The Gift That Keeps Giving
Want to give THE gift that keeps on giving to your children or grandchildren.
Have you ever thought of life insurance as THE gift that keeps on giving to your children or grandchildren?
I bet the idea never even crossed your mind.
Or if it did – you did nothing about it.
Why?
Because maybe it wasn’t presented right.
Well, let me set the record straight right now!
Setting up a life insurance policy on a young person is one of THE very best things you can do – for both YOU and THEM!
Let me explain…
A life insurance policy on a young child can give them access to money for college, down payment on a home
plus a death benefit to create wealth for future generations.
Here, let me walk you through an example:
1 year old girl
Start with a $100,000 permanent life insurance policy, cost about $27 a month for 20 years (that means you only pay premiums for 20 years and then it is paid up forever).
Now, here’s the really exciting part.
If you were to increase the monthly payment to $50 – the amount over the premium cost or $23
will go into a tax exempt investment account.
Based on a very modest 3% increase they could have access to over $7,000 at age 20 to put
towards their education.
Cash values continue to build and by the time they are in their 80′s there would be over $200,000
benefit to their heirs. (And the odds are good that you can do way better than 3% for the investment.)
All for $50 a month for 20 years!
That is only a $12,000 investment to provide money for the child to use for school, a home,
plus over $200,000 to provide to their children and grandchildren.
Remember, you are buying into this strategy out of love.
Your not buying because you think they will die, you are buying it because they will have a long healthy life
and could use the cash values as they grow up.
Of course, there are other strategies based on this theme that make having an insurance policy on your child (or grandchild) even more exciting!
This is a way better way to go than those “scholarship” savings plans!
It just keeps giving…and giving…and giving!
