Whole Life or Universal Life policies build cash value. The life insurance coverage is good for a lifetime, regardless of changes in their health, if they enlist in the military or if they choose a hazardous occupation.

Yes. A serious illness or accident could make life insurance very expensive, even unavailable, for children when they are adults. Why wait? You can avoid paying expensive premiums later by starting protection now and locking in the lowest rate for life.

Hardly any. It's a simplified application with a few medical questions. Electronic medical records are utilized through the MIB system.

No. Your child's life insurance policy will never be canceled, and the benefits will never be reduced as long as the premiums are paid on time.

If you're a parent, grandparent or legal guardian, you can begin the important coverage for your young loved ones.

After the application is approved, a policy will be issued and the first premium payment will be drafted, placing the policy in force. You will have 30 days (free-look period) to review it in the comfort your home. The monthly premiums will be based on your child or grandchild's current age. The rate will be locked in for life and it will not increase because of changes in age, health or occupation, unless you or the adult child initiates changes in the future, such as an increase in death benefit coverage.

An annuity is a long-term financial planning tool that can be a cornerstone of your family's financial plan. It can help you protect and grow your own retirement nest egg, or you can turn it into guaranteed lifetime income for you or your children.

In exchange for your premium, an annuity contract outlines the benefits and guarantees that you receive and the insurance company's promise to look after and grow your money until you need it.

Child annuities are a great vehicle to start young for stable future income in a tax-deferred vehicle. The power of compound interest can turn your gift into something that grows with a child into adulthood - helping to build a solid financial foundation, offering a valuable head start, and providing life benefits they can access when they need it most.

Why an Annuity for a Child or Grandchild Makes Sense

Life insurance provides financial protection for your family in the event of your death. There are many kinds of life insurance. Our carriers specialize in Indexed Universal Life (IUL), Children's Whole Life and Term Life. A permanent indexed universal life insurance (IUL) policy offers benefits and flexibility that can help you meet your unique financial goals and helps your family remain financially secure, no matter how long you live.

• Provides coverage for your entire life
• Premiums never increase during ownership of your whole life policy
• Builds cash and loan value that you can borrow against for life expenses

Whole life insurance for children provides lifelong death benefit coverage, the potential to build long-term financial security through cash value growth, helps safeguard their future insurability, and lock in premiums for life based on your child's current age, even if there are future changes in health.

Term vs. Whole Life Insurance: What are the Differences?

• Provides coverage for a limited period of time, e.g. 10, 15, 20 year terms
• After that period, policyholders typically pay increased premiums to continue coverage
• Usually less expensive than whole life insurance

Term vs. Whole Life Insurance: What are the Differences?