Life Insurance for Children:

News from 2013

Free No-Medical Life Insurance for Children

When it sounds too good to be true, it usually is. But this time, with the help of Foresters' FamilyLife Whole Life Insurance Policy, it can be a reality for your child. If parents purchase the FamilyLife Whole Life policy, they can include the Basic Children's Coverage Benefit at no additional cost. This children's life insurance rider includes $3,000 of term life insurance for any child under the age of 18. In addition, the term insurance policy can be converted into any one of ...
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Are Life Insurance Commissions on Their Way Out?

The average commission generated by a life insurance policy varies depending on the type of life insurance in question. For example, the average commission on term insurance is 30 to 70%, while it is 90 to 105% on whole life insurance products. Of course, what we're talking about here are the first year commissions, commissions for subsequent years drop much lower to an average of 4% a year for term insurance and 6% annually for whole life insurance. Life insurance commissions are ...
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Insurance Solutions for Unhealthy Young People

According to CBC, "Between 1994 and 2005, rates of high blood pressure among Canadians skyrocketed by 77 per cent, while diabetes rose by 45 per cent and obesity by 18 per cent." Further, "More than 250,000 Canadians in their 20s and 30s had high blood pressure, making them the newest at-risk group." Plus, The Childhood Obesity Foundation of Canada reports the following: "There has also been a dramatic increase in unhealthy weights in children. In 1978, only 15% of children were ...
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Term Life Insurance for Children

Most parents looking for life insurance for their children are looking for permanent policies where the coverage remains level for the insured child's lifetime. Many of these whole life or universal policies can be paid up in a limited number of years and build a cash value.However, some parents are looking for more basic coverage for their children. Term insurance can provide an affordable solution if this is the case. There are two types of term policies for children. (more…)
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BMO Insurance Whole Life Plan for Children

Now may be the time to buy BMO's 20-pay whole life plan for children BMO insurance offers a 20-pay non-participating whole life plan for children. The plan is very competitively priced and offers lifetime protection and is fully paid up at the end of 20 years. Ithas higher guaranteed cash values than most of its competitors and offers a unique 50 per cent paid-up provision at the end of 10 years, meaning that if the applicant stops paying at the end of 10 years, theinsured ...
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children life insurance types

Children’s Life Insurance: Which Plan is Best?

Which type of Life Insurance policy is best for your child? This is a tricky but important question.Let's break the answer down into three categories. 1. Permanent Life Insurance This is the most expensive solution for a child, but it also offers the most comprehensive coverage.Permanent Life Insurance solutions for children include the following. (more…)
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How Much Does a Children’s Life Insurance Policy Cost?

You can affordably insure your children A Children's Life Insurance policy can be a great way to protect your child's future insurability, and it offers some valuable benefits. However, the challenge can be fitting in the cost with your other financial objectives, but the good news is that a Child Life plan can accommodate almost any budget. Below are examples of pricing for different child life plans and some of the key benefits of each plan. 1. Whole Life Insurance This is the ...
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