Child life insurance
No one wants to consider the unthinkable, so talking about child life insurance can be difficult. But, there are advantages to this type of coverage that you might not be aware of. We’ll talk you through the basics of a child life policy to help you decide if it’s right for your family.
The advantages of having this policy.
Child life insurance is usually a whole life policy that starts much earlier in life than usual. It has three main advantages.
- It can act as a form of savings, particularly for college fees. Most child life insurance policies build up a cash reserve that you can either withdraw (for a fee) or use as security on a loan. In most cases, the growth of this cash reserve is at a guaranteed rate.
- Finally starting a policy now reduces the risk of your child having trouble getting a policy, themselves as an adult, due to a medical condition developed in childhood.
Does child life insurance fit your situation and needs?
To get more insight into whether a child life policy is right for your family, contact us today.
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