Chicago, IL (PRWEB) April 19, 2014
YourLifeSolution.com, a Chicago-based online life insurance quote service, is today publishing what they feel are six of the best reasons to purchase life insurance for children. "The knee-jerk reaction is to be against life insurance for children. People will say it doesn't make sense because children don't earn an income, although by this same logic it doesn't make sense to invest in their education or inoculate them. Child life insurance is merely a way to expend an ounce of preparation versus a gallon of perspiration. Speak to someone who has developed a serious health condition before the age of 30 and has tried to get life insurance thereafter and you'll understand the importance of having coverage before becoming ill. It simply makes sense to lock in rates at their absolute lowest and structure a policy to grow with the child throughout their life", said Eric Smith, the founder of YourLifeSolution.com.
YourLifeSolution.com's 6 Reasons to Buy Life Insurance for Children:
-No exam is necessary to place universal life or whole life on a person under 15 years-old
-The cost-per-unit of coverage will simply be higher if coverage is purchased later in life
-The child will not have to qualify for the coverage later in life
-They will have about 20 more years for death benefits and cash value to grow
-When structured properly, death benefits will grow as they age
-When the applicant retires later in life, they can borrow the cash value to fund a tax-free retirement
For more information on life insurance rates for adults or children, consumers are urged to visit YourLifeSolution.com, or call Eric Smith at 888.374.2764.