Life Insurance Advice for a Young Family
Young families have a lot of financial things to keep in mind in addition to with their goals might be, whether they want to have a home for the future, as well as, you know, daycare expenses and baby expenses. There's so much for young parents and families to keep in mind. He just turned two, and already we're hearing, "Is he starting school? Is he doing this?" and it's bit overwhelming. Key basics to keep in mind: a will and life insurance, so things are taken care of.
There's just so much out there, and me and my husband want to provide for our sons so much. College saving for your children, general savings plan They're all really, really important, and it's not going to happen unless you do it. It's about taking care of the now, and planning for your future. I think that many women carry a lot of fear about money Definitely watching our pennies right now is really important for our family. It's like putting pennies in a piggy bank. Instead of putting it in a little piggy bank where it doesn't really do much, you could be putting it towards a life insurance policy where you're helping their future.
People don't think twice about getting luxuries for their children, whether it's the best stroller or carseat, but there's another consideration out there which is with the Grow Up Plan. Just for a little bit of money, you can really get a lot of protection for your family. We need life insurance. We need to make a plan for the future, what we want to do. It's just so much to do. It's kind of like, you can relax and feel good that you're protecting your family.
In their 18th year, the policy actually doubles, so if you purchased a policy for $10,000, in their 18th year, it actually doubles to $20,000. The payments stay the same, so you get the benefit of purchasing the policy at a very young age and you have that same payment throughout your life. It's an endowment plan and it's in the only one that combines adult life insurance protection for yourself along with a college savings plan I've heard really good things about the Gerber College Plan.
Parents can set aside money safely for college and they know exactly how much money they're going to have at the end. It's not volatile with the economy so it's not invested in the stock market where you're going to have ups and downs you know exactly what you're going to have
If your child doesn't want to go to college, you'll have the money to be able to give them or use for a wedding, use for a house down payment without having any penalties. We're also getting life insurance. There is future guaranteed insurability for the child, so regardless of health or occupation, a child will have guaranteed to have life insurance provided they continue the policy.
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