Let’s have a frank conversation.

Whether you have children or a little one on the way, you know how confusing and unpredictable parenthood can be. While you can’t protect your kids from every bump, bruise, sniffle or sore throat, you can take steps to protect their financial future.

Setting up life insurance for children while they’re young or even before they’re born can provide a benefit for their future.

Here are four reasons for you to consider life insurance for children:

  1. It locks in a lower rate. Securing a low life insurance payment for your child is a gift that keeps giving. Generally, younger, healthier individuals qualify for lower life insurance premiums (the amount you pay). On top of that, once a life insurance policy is established in an individual’s name, their premium remains the same over time. That means the low rate you secure for your children when they’re born could save them thousands of dollars down the road.
  2. It protects against health conditions. Let’s say your child gets sick or develops a medical condition in their youth, teen or college years. A pre-existing policy would remain intact and protect against whatever comes next.
  3. It gains cash value. A whole life insurance policy accumulates cash value over time. If necessary, your child could withdraw or borrow against this money for living expenses like college tuition, financing a car, paying for a wedding or collateral for loans.
  4. It provides time and resources to grieve. In the event of the unthinkable, life insurance would cover end-of-life expenses so you could focus not on bills or how much time off work you have left, but on what matters most—yourself and your loved ones.

For guidance about your family’s life insurance needs, talk to an independent agent.