Child Life Insurance

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If you’re looking for a truly valuable gift for your child or grandchild, juvenile life insurance is a great option. Juvenile life insurance is permanent life insurance that insures the life of a child. It provides cash value accumulation, tax-advantaged savings, guaranteed life insurance and lower annual premium rates.

Many people do not take out a life insurance policy in fear of their children passing away, but to secure their child’s future. Regardless of age, everyone needs life insurance protection. Most parents buy a juvenile life insurance policy to provide future protection for their child who can maintain the policy later in life for a reasonable price.

How Does Juvenile Life Insurance Work?

The owner of the policy (usually a parent) pays a certain premium amount each year for a certain amount of coverage. In the event of the child’s death, the policy will pay out to the beneficiary.

Once the child reaches a certain age (let’s say 18, for example), ownership of the policy can be transferred to the child, who may then choose a beneficiary.

Why Should I Buy a Juvenile Life Insurance Policy?

  • Provides death benefit protection for your children.
  • Guaranteed insurance protection with no premium increase for the life of the policy.
  • Accumulates cash value that can be collected or borrowed. The owner of the policy can withdraw or borrow from the cash value at any time, for any purpose.
    • Accumulated cash value can be used to pay premiums, which eliminates the need for further contributions.

Juvenile life insurance guarantees life insurance for your children, regardless of future health considerations as long as the premiums are paid. Contact Neckerman Insurance Services for more information on how to protect your children now, as well as guarantee their future insurability.