If you are a parent, then you probably received a bag or folder of offers for child-related products when you checked your new born child out of the hospital. The offers include information about formula, pictures, and life insurance among other things.
Some financial planners do not recommend the purchase of life insurance on a child because there is no loss of income if the child should die. These same financial planners also say that insurance agents will appeal to your emotions to convince you that your child needs to be covered or the fact that children's life insurance is so inexpensive. These financial planners generally forget one key fact about children's life insurance: it ensures insurability.
A children's life insurance policy is a whole life insurance policy. A whole life insurance policy is a life insurance policy designed to have level premiums over your entire life, up to age 100 or higher. When you purchase a children's life insurance policy, even for small amounts of coverage, you are ensuring your child has locked in life insurance for life.
I know of many situations where friends and family have very young children that have developed disease or disorders, like juvenile diabetes, autism, or other developmental issues. Such situations could prevent your child from being able to purchase a life insurance policy later in their life. When you purchase a children's life insurance policy on your child, you don't have to worry what the future may hold for him or her, you can rest assured they have life insurance.
At Fuller Insurance, our children's life insurance policy is underwritten by Auto-Owners Life Insurance Company (rated A+ by A M Best). We can issue the policy for a child from 15 days old to age 17. The policy and premiums are guaranteed to age 110.
If you want to ensure your child's insurability and purchase an inexpensive children's life insurance policy, call Garrett Fuller at 850-622-5283.