There’s a cute insurance commercial on television you may have seen. In it, a country singer and retired football quarterback come across a baby shower where ”mom” is opening a gift box. The quarterback says “I hope it’s a life insurance policy.” and the singer responds “What???” The quarterback goes on to explain that a life insurance policy is a practical gift. Turns out the gift is baby shoes, causing the quarterback/spokesman to exclaim “Doesn’t make sense. Babies can’t even walk.”
It may bring a chuckle, but there’s a lot of truth to that clever ad.
Whether it is baby shoes, boxes of diapers or hundreds of toys, we tend to gift babies and small children with items of temporary value. Some items may never be used, played with or worn. Yet, many children grow up without the benefit of a life insurance policy.
What “benefits” you may ask? Well, a life insurance policy not only insures the life of a child but ensures the child will have access to life insurance no matter what health issues may lie ahead in the lives. The appropriate whole life insurance policy can build value through the years. This can be a financial resource the child can borrow against to buy a car or help pay for college someday. It may even be “cashed in” at some future point, like taking money out of a savings account. The best part is that when life insurance is purchased on a young person, it is very affordable. If the child should decide to continue maintaining the policy as an adult, it could become a significant part of their retirement plan.
Whether you are a parent, grandparent, aunt or uncle, if there is a baby or small child in the family, consider gifting a life insurance policy. Maintaining those modest premiums annually can be a lasting gift that will always be remembered. It may also be a lot more practical than another toy or outfit they will outgrow in a few months.
Our independent agents know companies who offer terrific value when it comes to life insurance for children. Contact us for a quote today. It may be a gift that is a little “out of the box” but it is a lasting one with real value.
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