Good morning Everyone!
Happy Monday 😊 I hope you had a weekend of love and laughter 🤗❤. I definitely did. The weather was beautiful and I was around people I care about the most, which is always a great feeling.
You may remember, last week, I mentioned I wanted to try something different for the blog. I was looking for topics to discuss so I know you’re receiving the financial information you need to make decisions. I didn’t receive any topics yet, but, I know I will receive some soon. So for now, I will pick today’s topic:
Why should parents buy life insurance for their young children?
Here are the benefits:
-Since they are young and healthy, their premiums are inexpensive AND will never changes
-The cash value grows and the child can use it for college
-If you take out loans for college, you can let the life insurance money continue to grow for another 6 months to a year AFTER the child graduates. Then when it comes time to pay it back, you can “borrow” money from the life insurance and pay back a nice portion of the loans. (saves you money by not paying interest AND principal back to the student loans)
-The money is tax-FREE
– to purchase a car, a house or take a vacation
Buying insurance for children at a young age is an investment in their future more than you may realize.
So now that you have this information, make it work in your favor. You will be glad you did.
Next week’s topic: You decide or it will be