Gifting life insurance to a child, a favorite charity, or your church offers a number of benefits and advantages you just can’t get from a new fidget spinner or nominal cash donation. The Ten Pay and Single Pay Whole Life products are particularly fantastic for generous giving and donations.
Gifting Life Insurance to Kids-Why Buy Life Insurance for a Child?
- The most important reason to purchase life insurance for a child in to protect their insurability. The future is uncertain and purchasing life insurance now provides them with coverage they may not be able to get as an adult due to illness or disability.
- Life insurance for children costs less than for adults
- It offers permanent, lifetime coverage.
- The parent or grandparent can maintain ownership until the child reaches adulthood.
- The owner of the policy may be eligible for other discounts on their other insurance policies.
- Charitable gifting of life insurance helps an organization you care about.
- It allows you to leave a larger amount to your charity. For example, take the amount you would like to leave and purchase a policy with a higher death benefit amount.
- Helps you leave a legacy.
- Supports a good cause!
- Gifting a policy also yields a current income tax deduction (Consult your tax professional for details)
Buy a policy this month and we will provide you with a card to send you the person/organization that you purchased the policy for!