"Why We Bought Life Insurance for Our Kids"
Posted on August 3rd, 2024
Story by Caroline Ledell
Why We Bought Life Insurance for Our Kids (And Why You Might Want To)
Let's be honest, when our kids were little, their biggest financial concerns were deciding between buying more Legos or saving up for that cool new video game. But we, being the overachieving parents we are, decided to sneak in some financial planning by buying life insurance for them. Yep, we were those parents.
Here’s the scoop on why we did it, and why you might consider it too:
1. Buy low, sleep well: Life insurance for kids is like buying a toy on Black Friday—crazy affordable. Lock in those low premiums while they’re young, and you'll thank yourself later.
2. Growing cash value: As the kids grow, so does the cash value of the policy. It’s like a savings account, but with a fancy name.
3. No extra hoops to jump: Some policies let you up the coverage as the years go by without any additional underwriting drama. We opted for this because who has time for more paperwork?
4. Hand it over: When the kiddos are all grown up and adulting (a miracle, I know), you can hand over the policy. Congrats, you've just passed on a financial asset along with the family recipes.
Now, our kids are full-fledged adults—handling life, paying their premiums, and yes, even knowing the difference between a beneficiary and a barista. And while they’re busy doing that, those life insurance policies we’ve been funding are now set to protect not just them, but their families too.
So, if you’re thinking about giving your kids more than just your good looks and sense of humor, consider this: life insurance isn’t just about peace of mind. It’s about giving them a financial head start and a little something extra to help protect the ones they love. And if you’re ready to chat about setting up something similar for your little ones, we’ve got a financial pro on speed dial.
Want in? Let’s talk at (832) 885-2067 or email us at [email protected]
We’re open Sunday through Thursday, 8AM to 5PM (PST), and Fridays 8AM to 12NN (PST).
https://vandjlife.com
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