5 Ways Buying a Life Insurance Policy for Your Child Helps Later in Life

If you get upset about the idea of purchasing a life insurance policy for your child, we understand. There are many misconceptions and assumptions about what that really means. Do you expect to benefit from the loss of a child? No. That’s not the intention. In fact, a life insurance policy is purchased FOR the child and not for the surviving parent.

We know the conversation is an uncomfortable one (we’re parents too), so allow us to explain why a life insurance policy is one of the best gifts you can give your child.

There are many instances later in life, that can dramatically increase both the difficulty of getting life insurance coverage, and the monthly premium costs. These circumstances can include a chronic disease like cancer, diabetes and in some tragic cases, a terminal illness. By the time any individual is formally diagnosed with a chronic illness or life-threatening disease, the option of life insurance is often too expensive for most family budgets to navigate.

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Why Does Life Insurance Matter?

Many of the historically guaranteed conventions of financial planning, are under constant change, making it more difficult than ever before, to achieve a healthy retirement and leave a legacy of financial preparedness and well being to our families. It’s not as easy as it used to be, to afford to save money, pay bills, fund post-secondary education for children or purchase a home. These are all benchmarks that most adults in the United States will transition through, whether we are financially prepared, or not.

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Welcome To Our New Website

We are excited to introduce our new website, and insurance blog. At Bach Insurance Group, we work hard to keep our agents informed about new developments in the life insurance industry, and resources that can help our national agents present the best value insurance products to their clients. We welcome any comments from the public, as well as our contracted agents, to help create a productive dialogue about the importance of life insurance, as an essential financial planning tool.

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