A great (and cheap) gift idea that grandparents can do for their grandchildren is securing for them a whole life product. Maximum policy limits can vary, but examples from very recent cases are….
Three year old female. $10,000 whole life coverage paid in ten annual installments of $123.20.
Seven year old female. $10,000 whole life coverage paid in ten annual installments of $134.10.
Eleven year old male. $10,000 whole life coverage paid in ten annual installments of $162.10.
One year old male. $10,000 whole life coverage paid in ten annual installments of $129.40.
Policy ownership can be in the name of the Grand parent. Ownership can then be transferred (if desired) to the child once the policy premiums have all been paid and the child has reached adulthood. Then they have a fully funded policy, with some cash value, that they never need to pay premiums on.
Maybe not as fun as a video game or plastic toy, but it will last longer!
Click here to request a quote, or call Beck Insurance Agency at 419-446-2777.
