A child life insurance policy used to be sold with the express
purpose of using the cash value of the policy to pay college costs.
The policy used was an endowment policy for 15 or 20 years.
It didn't take too long before people became aware that this was not really a profitable undertaking.
These policies are no longer used much for juvenile life insurance.
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The introduction of Money Market funds and Certificates Of Deposit just
about killed the juvenile life insurance idea. You get a better return
from your Certificates Of Deposit or Money Market investments.
They don't have a death benefit attached but people who invest in these college funds don't really buy them for the death benefit anyway...
The life insurance industry have progressed considerably and with the introduction of variable life insurance policies and variable universal life policies it may be worth your time to again take a look at life insurance as a possible vehicle through which to accumulate money for college education...
The great advantage to what could be called the new child life
insurance type of policy is that you get to choose your investment
portfolio. Your money is invested in stocks, bonds, mutual funds, money
market funds and certificates of deposit.
You decide which portfolio you want to invest in. Although a life insurance policy is attached you have the option of keeping your life insurance at bare minimum. Some of these plans give you a very good return on your money.
You also have the option of putting the policy on your life and earmarking the cash value to paying college costs for the child.
So child life insurance is very much alive again. It is
better than it ever was. These policies can only be sold by prospectus.
You should read it very carefully before you invest your money.
The agent is required by law to have an N.A.S.D license, in addition to his life insurance license, in order to sell these types of policies.
Can you think of anything more important than your Family's Security?
What would happen to Your Family if you died? Would they be provided
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Term life insurance is life insurance in it's simplest form. These policies stay in force for a specific number of years, for example, 5 years 10 years etc.
Whole life insurance is the plan of choice for many people. There are many variations to this plan.
Universal life insurance was designed with the express intention of combatting the venerable whole life insurance policy.
Are you looking for quality term insurance quotes? Have you determined how much you need? Do you know what type of term insurance is best for you?
In many cases it is a good idea to buy term insurance online. Some people know just how much life insurance they want to buy before they get online.