Gifting life insurance to kids. Why Buy Life Insurance for a Child?

• The greatest benefit of purchasing life insurance for a child is protecting their insurability. No one knows what the future holds, so purchasing life insurance for a child ensures that they have a lifetime of coverage that they many not be able to purchase as an adult due to an unexpected illness or disability.
• Life insurance typically costs much less for children than it does for adults
• If offers permanent, lifetime coverage
• The parent or grandparent can maintain ownership and premiums of the policy until the child reaches adulthood

Types of policies to consider:

• Whole Life (builds cash value)
• Single Pay Whole Life
• Ten Pay Whole Life
• Simplified Issue Children’s Advantage Plan Plus
• Universal Life

Gifting Life Insurance to a Charity. Why buy life insurance for a Charity?

• Charitable gifting of life insurance helps preserve the future of an organization you care about
• Allows you to leave a larger contribution to your charity: you can take the money that you were planning on gifting to the charity to purchase a life insurance policy with a much larger death benefit amount.
• Helps you leave a legacy
• Gifting your policy to a charitable organization may also yield a current income tax deduction.
• Support a great cause!

Talk to your local agent about life insurance.