Consider giving a Life policy as a Gift this year

This gift definitely won’t be on someone’s “wanted List this year. Neverthess, it should be considered by someone who knows tomorrow isn’t promised.

Toys. Electronics, or even the latest fashion trends will be outdated within months of Christmas time.

The reality is that they won’t outgrow an insurance policy.

Life insurance is the perfect way to invest in someone’s future.

I can remember my mother-in-law purchasing a life policy for our children when they were just babies. The policy lasted until they turned 18.

I cherished the gift because you never know whats in store ahead of you..

Life policies just makes good economic sense and a caring way to invest in their future.

When they open the gift, you won’t hear any excitement or joy, but the parents should be elated at such a caring gesture.

Purchasing insurance for a healthy baby or grandchild can be very affordable.

If you purchase a permanent policy, you can grow a cash value which can provide money, in which the young adult can borrow or withdraw against for future use.

A permanent policy can assist them in paying towards future college expenses or even a down payment on their first home.

Another benefit is that when the child gets to the age where they can purchase a policy, they can do so.

This gift is truly the gift that keeps on giving.

Facts about life insurance

Life insurance companies have defined legalities in which you must adhear to..

For starters,, You can’t purchase a policy on just anyone. You must have an insurable interest on the person. This means you must be closely related to or associated with that person.

You can only purchase policies for a relative, domestic partner, or business associate.

If purchasing a life policy on a minor, you will be required to provide their name, date of birth, address, Social Security Number, and a statement of how you are related.

And although a medical exam might not be required initially, you’ll typically need to provide some basic health information on the child.**

If you are a grandparent

Since grandparents are generally considered extended caregivers, many states will allow you to buy life insurance for your grandchild without the parent’s consent or knowledge.

You can name yourself, the child’s parents, or even another family member (such as a sibling) as a beneficiary. However, rules may vary by carrier.

If you’re considering the gift of a life insurance policy, complete ome of our contact pages and we will contact you within 24 hours.

We will ensure you are taking good care of and that your baby or grandchild has a healthy financial start.

A healthy financial start in life can be the very thing your loved one needs to change the trajectory of generations.

Baytown, Texas Life insurance, #lifeagent, #lifeinsurance, #termlifeinsurance , #wholelifeinsurance, #livingbenefits

Related Posts