When it comes to investing in your child’s future, one of the wisest choices you can make is to invest in life insurance. And while you may think that we are referring to life insurance on yourself — a policy that would pay out to your child in the event of your death — we are actually referring to a life insurance policy on your child. Why is it so important to invest in a policy for your child? Think about it. Don’t you want to leave your child with financial assistance in the event of your death? Sure you do, and your child will want to do the same for their children. But you don’t have to leave it to your child to buy a policy when they get older. Instead, you can invest in one for them while they are still young, locking in extremely affordable rates.
When you buy a policy for your child while they are still young, the premiums will be much more affordable than they would be if your child waits until he or she is older and starts to invest in a policy. For example, a 5-year-old is likely to get a $10,000 policy for well under $10 a month, with these rates locked in. And many insurance policies will allow the policyholder to double their policies several times throughout their lives and only a minimal increase in the policy premium will take place.
To learn more about buying life insurance for your child, please contact Oliver Insurance serving the Canby, OR area. A qualified insurance agent can help you choose a plan that best meets your needs.