Wondering what could possibly be the benefit of Life Insurance on Children?
Granted this is a uncomfortable topic to talk about, but reviewing your options before you need to can benefit you during a very emotional time. Here are a couple examples how life insurance on children is a good thing.
Covering funeral expenses is one the biggest reasons life insurance on children is a benefit. If the cost of a (more…)
As a parent, it is important you understand your options when it comes to protecting your children. Actively protecting your children is a full time job and is not limited to making sure they have their helmet on when bike riding and understanding it is not okay to talk with strangers. It also means if you pass away, providing your children with the resources they (more…)
As parents we do all we can to provide our children with opportunities to succeed. If the unexpected occurs, the death benefit proceeds from a Life Insurance policy can be used to fund College or other higher educational schooling.
A 2012 Bloomberg report finds that the cost of college tuition has soared 12 fold in 30 years. The same report shares some grim news that this rate has outpaced the price of inflation on consumer goods, medical expense and food. Most of us know that College Tuition is expensive, but with these staggering findings it may put a bit more urgency in protecting this opportunity for our children.
When there is a policy in place to cover your child’s college tuition should there be a pre-mature death, the surviving spouse and child(ren) will not endure this financial burden. Many variations are available for obtaining college tuition insurance coverage. You may feel it is best to have this coverage from the time your child(ren) are born or you may decide it is better to have a term policy only during the time your child(ren) are in college.
What ever is best for your personal situation, talking with your insurance representative about the different options available is the first step. Continuing to provide opportunities of success for your children with life insurance proceeds can make one of the biggest differences in their lives.
Note: This blog is designed for general information purposes only. All information presented on this site should not be interpreted as legal advice and the author assumes no responsibility or liability for the actions taken or not taken by the readers based upon such information. For legal and tax advice contact your attorney or tax adviser.
Rita Sollie, Direct Insurance Representative with North Coast Life Insurance Company (NCL). No gimmicks or schemes here, just genuine and honest service. We don’t sell insurance, we solve problems. I welcome the opportunity to show you what NCL can do for your Life Insurance and Financial needs.
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It’s that time again. Many students are preparing to head back to college or excited to be out of high school and moving into their next new adventure in life. This time can bring a roller coaster of emotions for both you and your child and it may be a hectic time. Many things to do and remember to pack. This is also a perfect time to (more…)