As Illinois parents, we work hard to provide for our children. But have you ever stopped to consider what would happen if the unthinkable occurred and your child passed away unexpectedly? No one wants to imagine such a scenario, but it is important to plan for the future.
Green Family Insurance Inc. offers life insurance policies for children, and buying them is relatively easy. According to insurance professionals, providing life insurance coverage for minors is a smart way to help your child in the future, especially if you have a child with a medical condition or a high-risk child.
What types of life insurance policies are available for children?
Generally, there are two types of life insurance policies available for children. These are term life insurance policies and permanent life insurance policies. Term life insurance policies have a limited term and a lower premium than permanent ones. On the other hand, permanent life insurance policies have higher premiums, but they guarantee protection throughout your child’s life.
What are the benefits of purchasing life insurance for your children?
Aside from gaining financial security, purchasing a life insurance policy for your children also helps build their financial security. These policies gain cash value, which has the potential for growth over time. This means that your child can have a valuable financial asset in the future that can be used for college tuition or a down payment on their first home.
Give Us A Call
Purchasing life insurance for your children may seem like an added expense, but it is a smart investment to help secure their future. At Green Family Insurance Inc., we specialize in family and child-oriented insurance policies for our Illinois neighbors. Contact us today to discuss your options for children’s life insurance coverage.