Life Insurance for Children -- Why?

When it comes to a child's future, parents and grandparents both like to plan ahead and to think big. Many parents buy extra life insurance for themselves, homeowners and personal insurance to cover assets, and begin a college fund. Many grandparents participate in the child's future by starting a college fund or 529 Plan. But, have you ever considered buying life insurance for your child?

Navy Mutual provides a fantastic product called Permanent 'Plus.' Permanent 'Plus' coverage is an interest sensitive whole life insurance plan, which combines the protection of permanent life insurance with the investment growth of universal life type insurance.

There are many skeptics about life insurance for children, but as an organization that has been providing life insurance for more than 130 years, we can assure you it's a great, low-cost way to set money aside for the future and to make sure your children will have insurance as an adult. It not only provides a death benefit that can increase over time but also offers tax-deferred cash value growth. It is a smart way to establish an interest-earning fund for them.

Children between the ages of 6 months and 24 years of age can have up to $250,000 of coverage purchased on their life. It is sold in $10,000 increments. A $20,000 minimum is required, and a $250,000 is maximum amount you can own.

Premiums rates are calculated on the insured's issue age, amount of coverage, payment duration, and tobacco use. The premiums are fixed and will not extend beyond the number of payment years agreed upon. Payments can be from a single payment, up to age 100. Premiums over a shorter period of time tend to be higher than those spread out over a longer period. Visit us online to get a quote.

If you have any questions about Permanent 'Plus' coverage, give one of our membership representatives a call at 800-628-6011, or send them an e-mail at

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