Truthfully, not many things in the insurance industry gets me excited these days. However, when Mutual of Omaha introduced a new Whole Life Policy for children that excited me. So I thought I would send out an email and tell you about the key features of this plan. I know that most people don't want to think about the possibility of needing a Life Insurance Policy for their child but the nice thing about it is that this policy will last them a lifetime and you are locking in the rates for them based on their current age.
I have always told my clients that I don't represent any products that I wouldn't put my family in. Well I am here to tell you that I liked the Mutual of Omaha children's life insurance policy. The program features include:
-Simple application with very limited health questions and no exam required.
-After transferring the policy when they are of age they may purchase additional insurance without evidence of insurability at their 30th, 33rd, 36th and 39th birthdays.
-The cash value builds over time for them.
-The rates will never, ever increase.
-The benefit will never, ever decrease.
Rate Examples based on a $25,000 benefit (Many other levels available)
4 Yr old Male……...$7.75/m
9 Yr old Female…...$11.50/m
14 Yr old Male.…....$15.25/m
19 Yr old Female….$15.25/m
Now I know what most of you are thinking that the chances of you needing this for your child is very slim and "YES" I agree with you because that is how I thought. But don't do it for now, do it in case of for later. It is very affordable, even makes a great option for the Grandparents to purchase for their grandkids as well.