Juvenile life insurance is permanent life insurance that insures a minor. It is a financial planning tool and should not be confused with Child Life Insurance which is usually purchased to protect a family against the sudden and unexpected costs of a funeral and burial.
Juvenile life insurance has become popular for college savings, lifetime savings, investment, and as an estate planning tool providing the following benefits:
– Build up of tax deferred cash value inside the insurance policy
– A policy can be paid up in 10, 15, or 20 years providing insurance coverage for life and cash values with continued growth
– The face value is received tax free
For more information on Juvenile plans and carriers, Contact me