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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Should life insurance buying be seen as an urgent matter? There is something about some people that at times may cause them to procrastinate about matters that could end up being quite costly...
Let us talk affordable term insurance. You want a policy that can fit into your budget, right?
It can be a very satisfying feeling when you become aware of the advantages of whole life insurance for the first time.
The best term life insurance rate can be quite easily found on the internet today because web insurance companies have done intense research on behalf of the consumer.
I recently did some research on the development of the 30 year term insurance policy over the years. What I learned was quite interesting.