Children's Life Insurance in Deerfield

This one is often misunderstood, so it deserves a careful explanation. A children's policy is usually a modest whole life contract. A parent or grandparent owns it and pays for it; the child is the insured. Its central value is not the benefit. It is insurability. Once the policy is in place, the child remains covered for life regardless of any illness or condition that appears later, and many contracts allow additional coverage to be bought at certain ages without new health questions. That can matter a great deal for someone who develops a chronic condition in adolescence. A secondary value is cash value, which builds slowly from the start and can be used by the owner down the road. Premiums are low because the child is young, and they never increase. In Deerfield we hear from new parents who want this settled early and from grandparents looking for a gift that will still matter when the child is grown. We explain ownership, the eventual hand-over of the contract to your grown child, what the purchase options permit and how the cash value works. Then we compare two or three small amounts.