Starting Early Pays Off In the Long Run

Some people may think that life insurance for children and young adults is unnecessary. They have no dependents and no assets, so they feel there is nothing to cover. A couple of reasons that some people buy life insurance while their children are younger are that the premiums are lower and the children are generally healthier. They’re not buying it to protect the child’s assets now; they’re buying to insure them for the future. 

There’s no guarantee that when the child gets older they'll qualify medically for life insurance. They may develop a condition that may prohibit them from becoming insured. By securing the policy when they are young, you can insulate against that. Also, for permanent policies with cash value, it allows more time for the cash value to grow. Two permanent policies that AAFMAA offers for children are the Value-Added Whole Life policy and Generations Plus. 

Both are permanent policies which offer lifetime coverage for the child. And, with the Generations Plus policy, there are built in guarantees for future insurance policy purchases. It’s a great way to build in guaranteed protection for your children and grandchildren when they’re young. For more information on our policies for children and grandchildren, visit our website www.aafmaa.com or contact a Membership Coordinator toll-free at 1-877-398-2263.