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Child Life Insurance

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Child Life Insurance Provided By Our Agency

You do everything you can to protect your kids and their future — including their financial well-being. Life insurance is so important, even at a young age. There are options for this. Connect with us to map your child’s future needs and get the right coverage.

What is Child Life Insurance?

Life insurance for children works much like life insurance for adults: the policyholder pays premiums, and the policy pays out to a beneficiary (in this case, a parent or guardian) if the insured passes away while the policy is active. Because most life insurance for kids is whole life, this coverage lasts their entire life.

Who needs Child Life Insurance?

These cases are rare, but you may benefit from buying life insurance for your child if:

  • Your child has a health condition that will worsen as they age
  • Based on family medical history, your child may develop a serious health condition early in life
  • You or your loved ones rely on your child financially

If you need to ensure your child’s life, adding a child rider to your term life insurance policy is simpler and cheaper. A child rider provides a death benefit if any of your children pass away without the complex investing component and can be converted to a permanent policy in the future if your child needs lifelong coverage.

Why is Child Life Insurance important?

Although it may feel odd to think about life insurance for your child or children, the benefits can go far beyond what we traditionally consider the younger you lock them into a policy. Here are just a few.

Affordability
When you purchase life insurance for your children, you guarantee they have insurance protection at the best price – because life insurance is less expensive, the younger and healthier we are. And let’s face it; we were all at our prime when we were younger!

Insurability
It is better to buy life insurance for your children when they are young and healthy. This will provide them with insurance coverage no matter what health conditions might develop in the future.

Financial Security
Having life insurance is vital because it provides a foundation for financial security. Let’s look at what you hope your child will accomplish: college, marriage, home ownership, children of their own, owning their own business, funding their children’s college, and retirement. Life insurance can help with all of these because of its cash value over the years.

For Example:
When your child is ready for college, a loan can be taken from the cash value to help pay for college expenses. Likewise, a loan can be taken from the cash value when your child is ready to purchase that first home and needs funds for a down payment.

Already have Child Life Insurance Switching is easy

It might be time to switch insurers whenever your existing insurer's service doesn't meet your needs. For example, it might be time to consider other options if you have poor claims experience or an unexplained rate increase.

If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.

Contact us today to help you with multiple options to choose from.
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About Altima Auto Insurance Agency

Altima Auto Insurance Agency helps you choose from a variety of personal insurance and business insurance solutions.
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814 W. Arkansas Ln.
Arlington, TX 76013
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