Well I was speaking with the home office life insurance support team today about term life. I was having a brief conversation with them explaining that I will be making some changes to my Texas life insurance policy. As were we speaking the rep asked me if I had kids? I said yes I have 2 children. Then he reminded be the benefits of adding a child rider to the policy, which I already understood.
That benefit being a term life insurance child rider, which would also cover my kids under my term policy. Not only that, but with this life insurance company, the child rider term life insurance policy is convertible to permanent life coverage like whole life or universal life.
Why would that be important? Well as it turns out it in many cases, like the one I am about to explain to you now. Seems one of the mangers with this insurance company recently had a boy. He added the boy to his term life policy as a child rider. When the boy turned 2 years of age, the child was diagnosed with autism. Luckily the child was covered before the diagnosis!
Insuring the life of an autistic child is difficult. It can be done, but it could be very expensive and the coverage may also be limited. In the case mentioned here, the child will have full life insurance benefits for the rest of his life since the dad will be converting the boys policy to a whole life plan. That means this young child will have a very nice life insurance for the rest of his life! Not only that, the policy will be accumulating cash value!
When the child grows up, there will be a very nice reserve of cash that may be accesses to pay for school or make any other important purchase, like a home down payment.
Do you have young children who are not on your life insurance policy? Then add them to guarantee that they will always have access to life insurance, before something unexpected happens.
Life insurance is all about planning, being prepared and financially protecting your loved ones future so they never have to experience final hardships or a down graded life style.
I'm available if you need me for assistance.
That benefit being a term life insurance child rider, which would also cover my kids under my term policy. Not only that, but with this life insurance company, the child rider term life insurance policy is convertible to permanent life coverage like whole life or universal life.
Why would that be important? Well as it turns out it in many cases, like the one I am about to explain to you now. Seems one of the mangers with this insurance company recently had a boy. He added the boy to his term life policy as a child rider. When the boy turned 2 years of age, the child was diagnosed with autism. Luckily the child was covered before the diagnosis!
Insuring the life of an autistic child is difficult. It can be done, but it could be very expensive and the coverage may also be limited. In the case mentioned here, the child will have full life insurance benefits for the rest of his life since the dad will be converting the boys policy to a whole life plan. That means this young child will have a very nice life insurance for the rest of his life! Not only that, the policy will be accumulating cash value!
When the child grows up, there will be a very nice reserve of cash that may be accesses to pay for school or make any other important purchase, like a home down payment.
Do you have young children who are not on your life insurance policy? Then add them to guarantee that they will always have access to life insurance, before something unexpected happens.
Life insurance is all about planning, being prepared and financially protecting your loved ones future so they never have to experience final hardships or a down graded life style.
I'm available if you need me for assistance.
