As a parent or grandparent, one of the most important gifts you can give your child or grandchild is a head start on securing their future. Term to 25 Life Insurance for children can go a long way toward that goal since it guarantees the ability to convert up to $30,000 to permanent insurance at age 25, regardless of the insured person's health status. This gives your child or grandchild guaranteed insurability for life.
Term to 25 Life Insurance is the best of both worlds: affordable term coverage now with an opportunity to convert to permanent coverage that builds cash value later.
Benefits of Term to 25 Life Insurance
When you purchase a Term to 25 policy from us, you're giving your child the opportunity to have guaranteed insurance protection for life. Product features and options include:
Affordable premium payments
A fixed death benefit until coverage ends
Coverage can be issued up to age 17, with a maximum death benefit of $30,000
An option to convert coverage to a permanent policy that builds cash value up until the insured person's 25th birthday, regardless of health
It's natural to want to do all you can to help secure your child's or grandchild's future. If you want to establish a financial foundation for a young person, but are keeping an eye on your budget, term insurance may be an alternative. Consider a Term to 25 Life Insurance policy if:
You seek an affordable way to provide life insurance for your child or grandchild.
You want a guaranteed option to be able to convert the policy over to permanent coverage at a later date, regardless of the insured's health status.
With a Term to 25 policy, you help protect your child or grandchild today with term life insurance to his or her age 25. The policy is available for issue ages 0-17. Three coverage amounts are available: $10,000, $20,000, and $30,000.
If your loved one converts his or her Term to 25 Life Insurance policy to permanent coverage before age 25, the new policy will begin building tax-deferred cash value. This fund can be borrowed against for major purchases or used for emergencies. Because conversion from this plan to whole life is guaranteed, health problems or injuries cannot prevent your child from qualifying for permanent life insurance later in life.
Explore Additional Resources
Consider Term to 25
Learn about our life insurance for children, and determine if it's the best choice for your needs.
80% of consumers who believe they need life insurance haven’t bought it because they think it is too expensive. (Life Happens, April 2015)
80 percent of consumers misjudge the price for term life insurance, with Millennials overestimating the cost by 213%, and Gen Xers overestimating the cost by 119%. (Life Happens 2015)
In 2016, there was a significant decline in life insurance coverage adequacy for U.S. households. In 2010, those insured had coverage to replace their income for 3.5 years. Today that has dropped to 3 years, which is far lower than most industry recommendations. (Limra Facts 2016)
The average insured adult has 3.6 times his or her annual income for life insurance coverage, or $166,600. Salary: $46,333, Life Insurance: $166,800. (How much life insurance do you need? By Barbara Marquand Posted : September 12, 2017. Insurance.com 2017)
But is it enough to provide for all of your family needs?
As a general rule of thumb, it is recommended that you have 8-10 times your salary in life insurance. However, this may be too much, or not enough. Everyone’s personal needs are different. We can help you determine how much is right for you. Talk to us today.
Annual Renewable Convertible Term Policy Series 0701-306 WSA issued by Western-Southern Life Assurance Company. Renewable and Convertible Term Policy Series 0701-307 WSA and 0701-307-U WSA issued by Western-Southern Life Assurance Company.
Western-Southern Life Assurance Company, Cincinnati, Ohio, operates in DC and all states except AK, ME, NH, NY and RI.
Convertible Term Life Policy to Age 25 series 0801-220 issued by The Western and Southern Life Insurance Company which operates in DC and all states except AK, CT, ME, MA, NH, NY and VT.
These policies and benefits may not be available in all states, and benefits may vary by state.
Payment of benefits under the life insurance policy is the obligation of, and is guaranteed by, the issuing company. Guarantees are based on the claims-paying ability of the issuer. Products are backed by the full financial strength of the issuing company.
Life insurance products are not bank products, are not a deposit, are not insured by the FDIC, nor any other federal entity, have no bank guarantee, and may lose value.
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