juvenile Life insurance

What did you buy your child or grandchild for their last birthday or Christmas? Was it the newest game console, a smartphone, or an iSomething that has their eyes seemingly glued permanently to it? Perhaps it was a new laptop to help with schoolwork or a play kitchen to keep your toddler playing while you prepare a meal in the real kitchen. Whatever the gift was, the novelty may eventually wear off, your baby boy will outgrow it, and then it’s time for new toys!

Unlike material gifts, financial protection and security isn’t exactly on your daughter’s list of her most epic birthday presents. But down the line, she will thank you for helping her get a little ahead in life. Traditional gifts expire or become obsolete or get outgrown. But the gift of life insurance is something that really lasts a lifetime. Now think about that for a bit. Insurance for your child’s life. We insure our cars, our homes, our businesses, and even our jewelry, so wouldn’t it make sense to insure our most precious assets – our children?

Juvenile whole life insurance covers a child for their entire lifetime. Now the chances that you, the parent or grandparent, would ever have to face the tragic event of having to collect the benefits of your child’s life insurance policy is slim. Parents don’t usually outlive their children, although I could only imagine the devastating pain and loss of the ones that have.

So here’s another thing to ponder: when your precious babies are sent back to their maker at the end of their very long, healthy, prosperous, and very long life, their children (your grandchildren) will receive those benefits and won’t have to worry about funeral costs or unexpected final expenses that accompany the death of a beloved parent. You would be protecting your child’s life as well as protecting your grandchildren’s assets. How amazing is that?!

Another reason that juvenile whole life insurance is a sound investment is the cash value it accumulates over the lifetime.

In the future, it can help pay for college expenses, a down payment on a car, or the costs of a wedding celebration. Plus, some policies, like AFLAC’s Juvenile Whole Life Insurance, have benefit amounts that double when your keiki turn 18.

The best time to protect your family is now; the sooner, the better. Premium rates are locked in at your son’s or daughter’s current age and health, so they are really affordable and won’t go up as your child gets older or if there’s an adverse change in their health like diabetes, cancer, or hypertension. Even if there is tobacco use later in life, the rates won’t change, which is incredible considering what the premium would be for a 40-year-old male smoker with high blood pressure trying to get life insurance. It’s never too soon to begin building a strong financial foundation, especially for our children.

So the next time you’re strolling the aisles at Toys ‘R’ Us or scrolling late at night on Amazon wondering what affordable gift would satisfy your child’s birthday hunger, and with Christmas around the corner, consider the gift that lasts a lifetime – juvenile whole life insurance.

They may not know how to thank you now, but they will be extremely grateful when they get older and understand all the benefits later.

Image Credit: Petit Soleil Maui

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Nina Magbual is a born-and-raise Maui mama to two adorably handsome, curly-haired little boys. Blessed with a love of numbers and a natural gift for educating, she opened New Money Bookkeeping & Financial Services, where she offers to take the stress away from business owners and families and help them to understand their finances better. Nina's number one passion is writing and dreams to perform slam poetry on a major stage one day.


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