We all live busy lives and you may not have had the opportunity to watch Michael Lampel on Global Morning on June 2nd so we have the clip on our website for you. It was a lively, round table discussion on saving for your kid’s financial future and Michael brought up some very valuable points that you want to make note of.
- It’s never too early to start saving for your kid’s financial future. Insurance for Children has a fabulous product called Child Plan which can be purchased for a child as young as 14 days of age.
- What is Child Plan? Child Plan is a participating whole life insurance plan that combines guaranteed cash value, lifetime cash payments and permanent, fully paid life insurance for your child’s future. It will pay for any education program worldwide; not only those approved by the government. It can be used even if your child doesn’t pursue post secondary education to buy a house, start a business, or as a source of income.
- How much does it cost? For the price of 2 lattes a day, if you purchase Child Plan when your child is less than 1 year old, at age 21, they will have an education fund worth almost $77,000 and fully paid life insurance worth almost $640,000. If they decide to let the cash value grow until age 35, they will have over $200,000 that they can use for anything, including the down payment on a house, and they will have a full paid life insurance policy worth over $1,100,000. At age 45 they will have a cash value of almost $370,000 and fully paid life insurance worth almost $1,500,000. At age 65 they will have a cash value of almost $1,100,000 and fully paid life insurance worth almost $2,400,000. The longer the cash value remains untouched, the more it grows.
We hope you enjoy the clip! Contact one of our Family Advisors to find out about saving for your kid’s future with Insurance for Children.