If you have a grandchild or child, nothing can guarantee a solid financial future for them like a dividend paying whole life policy. The cash value in the policy grows tax free and the dividends paid to the policy help purchase more life insurance. With you as the owner of the policy, you can use the cash value in the policy to purchase a car for the child at 16, or help them pay for higher education. If you desire, when the child is responsible enough, you can transfer ownership of the policy to your grandchild, son or daughter and it will continue to be a solid financial base for them for the rest of their lives. Meanwhile, as owner of the policy you can use the cash value that builds in the policy to help the child financially every step of the way.
*I recently opened a $150,000 dividend paying life insurance policy for my 3 year old daughter. The cost is $46 a month. By the time she is 65 there will be approximately $147,000 of cash value in the policy and $285,000 of life insurance. Best of all, we have tax free access to this cash value anytime we need it without penalty. It’s a wonderful present for her...and me.
Child’s Age | Amount of Insurance (Dividend paying whole life) | Monthly Premium |
2 | $25,000 $50,000 $100,000 | $15.00 $23.00 $32.00 |
5 | $25,000 $50,000 $100,000 | $16.00 $24.00 $36.00 |
10 | $25,000 $50,000 $100,000 | $17.00 $26.00 $43.00 |
Child’s Age | Amount of Insurance (Dividend paying whole life) | Monthly Premium |
2 | $25,000 $50,000 $100,000 | $15.00 $23.00 $32.00 |
5 | $25,000 $50,000 $100,000 | $16.00 $24.00 $36.00 |
10 | $25,000 $50,000 $100,000 | $17.00 $26.00 $43.00 |
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