Best Life Insurance for Children?
- Thread starter educateme
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Why do you like Gaurdian so much for child policies? Any particular reasons?
I clicked on the link and it didn't tell me squat about their child policies.
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Why do you like Gaurdian so much for child policies? Any particular reasons?
I clicked on the link and it didn't tell me squat about their child policies.
because they have done great on all my kid app's in the past.....
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Define great
good rates.....great underwriting......solid company.......
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Most insurers are neck and neck here with juvenile whole life insurance
A major difference you may find though is most carriers only give the child standard non-smoker rates because of the lack of having a physical. I've even seen some carriers rate children as Standard Tobacco. I would go with a carrier that has a solid whole life contract and offers preferred rates to children, or the ability to get reconsidered for preferred rates once their 18.
Also the additional purchase option should be a close second to the above point.....guaranteed insurability is an invaluable gift.
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Guardian certainly has the best GIO in the industry, but you're only going to max that benefit if you purchase $250k on your children.
Ohio National will automatically bump the risk class from standard non-smoker to select at age 18 (no underwriting)
Penn Mutual will let you include any blended (term insurance on top of the base whole life policy) portion of the policy in the GIO (their GIO caps at $100k per exercise date)
Massmutual has a decent GIO at $150k per exercise date, but fewer exercise dates than Guardian.
Term is not something I'd waste time with.
UL products are also available, but some carriers won't write UL contracts on children.
Ohio National will automatically bump the risk class from standard non-smoker to select at age 18 (no underwriting)
Penn Mutual will let you include any blended (term insurance on top of the base whole life policy) portion of the policy in the GIO (their GIO caps at $100k per exercise date)
Massmutual has a decent GIO at $150k per exercise date, but fewer exercise dates than Guardian.
Term is not something I'd waste time with.
UL products are also available, but some carriers won't write UL contracts on children.
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