Life Insurance The Perfect Gift for a Child

Raising a Family

Have you ever thought of life insurance as a gift for your child? Another year has rolled around, and you are trying to think of something to buy for your son or daughter but all you can think of are the typical gifts every child receives. Now maybe the perfect time to think outside the box and consider purchasing whole life insurance as a gift for your child.

Let’s take a look at a few reasons why buying whole life insurance would be a great gift. First, the premium price for the coverage will most likely never be less expensive. You can get a larger amount of coverage for a reasonable price because your child is young and hopefully, in good health. Remember, right now, your child maybe in the best health they will ever be in.

When you purchase whole life insurance, you have a few options as to how long you can pay to have the coverage. You can elect to pay premiums for 10 years, 20 years, to age 65, or even up to age 100. With purchasing whole life insurance for your child, you may be able to give them a completely paid up policy by the time they reach adulthood or you can turn the payments over to them, at an affordable rate.

No one knows what is going to happen to us, health wise, as we get older. By purchasing this whole life insurance for your child while they are young and healthy, you have protected them in the event that at some point during their life they become unhealthy and may not be able to obtain life insurance.

Another benefit is whole life insurance does begin to accrue a cash value after its second year in existence. If purchased early enough in a child’s life, this accrued cash value could assist your child in their college years. This money could be used to purchase books or assist with paying the college tuition.

These are just a few reasons why purchasing whole life insurance for your child could be a wonderful gift. It’s a gift that does not give immediate gratification, but would be beneficial to them as they grow older. In my opinion, helping your child prepare for their financial future is a priceless gift.

About the author: Jim Marcinkewicz has been in the life insurance business for over 6 years. He is a big supporter of the American Red Cross and teaches both CPR and First-Aid classes. With two daughters in college, Jim knows the expense it takes to care for your family and enjoys helping others prepare their futures as well. You can reach Jim at 1-800-651-1953 or