Insurance Agent Forum

[BeatriceSmith]

I guess being an agent we need to be more of a thinker so more people or children would benefit in return..We dont just sell but we care..

[PowerPlayer]

IOA-MI,

The biggest reason for selling life insurance for a child is not to protect it from death in childhood. ("It" LOL, like its some thing from the swamp.)

The objective is to be a long term policy to last for the boy/girl's entire life. You are helping by guaranteeing their insurability so that if something in the future prevents them from getting insurance they still have a policy to protect their future family.

With that being said, the best insurance policy for a child will come with a guaranteed DB increase option (usually one every 3-5 years after turning 18).

Even better depending on how much the parents want to save monthly is a cash value policy, index life with 6-7% return if they dont understand risk-reward.

If you have your securities license, you can do a variable or universal and take advantage of dollar cost averaging monthly over the life of the contract.

Hope this helps,
James

[WinoBlues]

Total family premium maybe a factor.

Originally Posted by PowerPlayer

IOA-MI,

The biggest reason for selling life insurance for a child is not to protect it from death in childhood. ("It" LOL, like its some thing from the swamp.)

The objective is to be a long term policy to last for the boy/girl's entire life. You are helping by guaranteeing their insurability so that if something in the future prevents them from getting insurance they still have a policy to protect their future family.

With that being said, the best insurance policy for a child will come with a guaranteed DB increase option (usually one every 3-5 years after turning 18).

Even better depending on how much the parents want to save monthly is a cash value policy, index life with 6-7% return if they dont understand risk-reward.

If you have your securities license, you can do a variable or universal and take advantage of dollar cost averaging monthly over the life of the contract.

Hope this helps,
James

[DHK]

I agree with James.

However, I would NEVER sell an individual child policy when the parents don't have enough coverage themselves.

Two reasons:

1 - The parents are the breadwinners and need to have their economic values protected as the higher priority.

2 - The last thing we need is to potentially put the child in danger for greedy or desperate parents who may do the unthinkable to collect on the child policy.