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Comprehensive Child Life Insurance with Marlow Campbell Insurance Group

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Marlow Campbell Insurance Group/ child life insurance

Child Life Insurance Provided By Our Agency

You do everything possible to safeguard your children and their future - including their financial security. Life insurance is crucial, even at a young age. There are options available for this. Connect with Marlow Campbell Insurance Group in Apex to plan for your child's future needs and secure the right coverage.

What is Child Life Insurance?

Child life insurance works similarly to life insurance for adults: the policyholder pays premiums, and if the insured child passes away while the policy is active, it pays out to a beneficiary (usually a parent or guardian). Most child life insurance policies are whole life, meaning the coverage lasts for the child's entire life.

Who Needs Child Life Insurance?

While these cases are rare, you may benefit from purchasing life insurance for your child if:

  • Your child has a health condition that may worsen with age.
  • Family medical history indicates your child may develop a serious health condition during early life.
  • Your child provides financial support for you and your loved ones.

Including a child rider in your term life insurance policy is a more straightforward and cost-effective option. If any of your children die away, a kid rider pays a death benefit and can later be changed to a permanent policy if your child requires lifetime coverage.

When Life Insurance for Kids Makes Sense

Before buying life insurance for a child, ensure you have adequate coverage for yourself. The most important thing is safeguarding your family's financial security. Insurers typically require parents to have their own life insurance policies with at least as much coverage as they want to purchase for their child.

It would be beneficial to prioritize other financial obligations before purchasing life insurance for a child. These include paying off high-interest debt, preparing for retirement, and establishing an emergency fund.

Once you have secured your financial foundation, consider life insurance for your children if it fits within your budget. Although it may not always make sense, it can benefit some families. High-income parents, for instance, might value the tax-advantaged increase in the policy's cash value or the opportunity to transmit wealth to their offspring through a life insurance policy.

If your family has a history of genetic medical conditions like diabetes, insuring your child early ensures they have coverage even if they develop a medical condition later in life.

Working with Marlow Campbell Insurance Group can help you determine whether child life insurance suits your family and financial situation. Connect with us today to learn more!

Why is Child Life Insurance Important?

While it may feel odd to consider life insurance for your child, the benefits can extend far beyond traditional expectations, especially if you lock them into a policy early. Here are a few reasons why:

Purchasing life insurance for your children guarantees protection at the best price, as life insurance is less expensive when you are younger and healthier.

Buying life insurance when your children are young and healthy ensures they have coverage regardless of future health conditions.

Financial Security: Life insurance provides a foundation for financial security, supporting major life milestones such as college, marriage, homeownership, starting a business, and retirement. You can borrow against the cash value of the policy to assist in covering these expenses.

For Example:

  • When your child is ready for college, a loan can be taken from the policy's cash value to help cover college expenses.
  • A loan can also be taken from the cash value when your child is ready to purchase their first home and needs funds for a down payment.

Ready to secure your child's future with life insurance? Contact Marlow Campbell Insurance Group at 1001 Pemberton Hill Rd. Suite 203 Apex, NC 27502, to explore your options and get the right coverage for your family.

Already have Child Life Insurance Switching is easy

It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options

If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.

Contact us today to help you with multiple options to choose from.
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