Why you should purchase Life Insurance for your Children

This photo was taken of my son Andrew when he was two years old. We had a family friend, who is also a talented photographer, come to our house to take these photos of our family.


Because this was the day before my son was going to start chemotherapy for a cancer that he developed at 18 months of age. And my wife and I wanted photos of our son “before” chemo.

Six years later, our son is doing amazingly well. He is thriving and we are beyond grateful.

But, because of his illness, he will (most likely) never be able to have a Life Insurance policy as an adult to help protect his loved ones. As an insurance agent, I wish I had of properly protected him with the gift of a Life Insurance policy when he first came into this world. But, you know, hindsight is 20/20…

Because of this life altering experience, I am now a strong advocate that parents should purchase life insurance policies for their children at a very early age.

Reason #1 – A life insurance policy provides money for the funeral and other expenses that would occur in the tragic event of a child’s death. In addition, there would be funds for family counseling and medical bills, as well as money that is necessary for the family to get by if the parents decide to take a leave from work.

Reason #2 – It allows a child to be able to qualify for life insurance later in as an adult. Many people don’t know this, but a child who develops a medical problem early in life can have issues qualifying for coverage as an adult. If you purchase life insurance for your child now, you are guaranteeing the child has some coverage and can purchase more life insurance when they reach adulthood, regardless of their health status.

Reason #3 – There is also a savings component of a permanent life insurance policy, called cash value, which grows tax-deferred. The policy owner can borrow against the cash value or surrender the policy for the money (less a possible surrender fee). The cash could be used for anything, including college expenses. A whole life insurance policy guarantees a certain percentage return on the cash value and compares well with other conservative savings vehicles like CDs.

The policy that I normally recommend is a permanent life insurance policy, such as whole life. These policies are generally for smaller face amounts ($50,000 or less). This type of permanent life insurance policy provides coverage for your child’s entire life and includes a savings account that gradually builds value over time. As a result, the premiums are usually more affordable that a term life insurance policy.

I always tell my customers, friends — really anyone that will listen — that life insurance gives you options. The more life insurance you purchase, the more options you have.

So, you can rest easy with financial security. And, really, there is nothing more precious than your family’s security. That is why having the right amount of life insurance – for both you and your children – is so important. A good life insurance policy can offer you peace of mind and be the cornerstone of your individual financial plan for the future.

Let me help you.

Langlois Insurance Agency specializes in life insurance, mainly because I strongly believe that it is so important. I can help you select the right amount of life insurance benefits to ensure your family is properly protected…and will do it at a premium that you can afford and are comfortable with.

Please don’t hesitate to contact me at #815-485-2107 with any questions about Life Insurance. I always love to hear from my customers!

Warmest Regards,

Matt Langlois