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A Great Gift!

“A SOCIETY GROWS GREAT WHEN OLD MEN PLANT TREES WHOSE SHADE THEY KNOW THEY WILL NEVER SIT IN.” – ANCIENT GREEK PROVERB

Should I Buy Life Insurance for

My Children or Grandchildren?

grandparents giving moneyWhen we buy life insurance “for” our children or grandchildren, we are providing them with a gift that will help form the foundation for financial freedom and security for their future. We are giving them a head start financially.  Right now, hopefully, our children or grandchildren are in excellent health and they haven’t started bungee jumping, scuba diving, flying airplanes or other fun but potentially cost increasing activities.  And they haven’t chosen a career that an insurance company might find to risky to insure them.

Right now, they can probably qualify for life insurance at the most favorable pricing they will ever have in their entire lives.  No one has a lease on good health!

Over the long haul, cash value life insurance is an excellent example of compound interest at work.  The sooner we start, the sooner we have the power of compound interest working for us, or in this case, for our children or grandchildren.  The cash value will be there for them when and if it is needed for things like college educations, buying their first home or starting a business.  Borrowing from a cash value life insurance policy is a guaranteed right! As we all know, getting a loan from a traditional bank can be a major hassle.

The likelihood is that our children and grandchildren will live to a ripe old age.  Cash value life insurance will be a tremendously valuable asset for them to have during their lifetimes as well as for their families whenever they die.  We will have given them a legacy that will last a lifetime and beyond.  Looking back, I wish I had bought more…sooner.

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