Young Adult Permanent Insurance
Life insurance coverage for young people
More and more people are beginning to understand the benefits of giving young adult permanent insurance as a gift to their children or grandchildren. Young adult permanent insurance offers financial protection and security for the rest of the child’s life. Until the child is 18, and as long as the premiums are paid, the policy can never be cancelled and they are then left with the option to purchase more protection for their life as an adult.
As the premiums are paid, the cash value of young person permanent insurance policies grows – on a tax-deferred basis. In addition, the money received by beneficiaries is generally not subject to income tax.
“The younger the child is, the lower the premiums are. If the child is a minor, the policy will be owned by the adult party until the child comes of age.”
At QuoteRack.com, we understand that buying a permanent insurance policy for a child is a matter that needs careful consideration. After all, you want the child to reap as many benefits as possible by the time they mature. We will put you in touch with experienced and expert finance and insurance specialists who can help you find the right young person life insurance policy at the right price.
“Making provision for my grandchildren was very important to me. QuoteRack.com passed my details to a team of professionals who guided me in the right direction.”
“QuoteRack.com’s resources enabled us to by young person insurance for our son. It may not be as entertaining as the latest computer game, but he’ll benefit from it far more in the future.”