By Tressa Walton

We all say we love our families and do what is best for them. As parents’ we try to give our children more than what we had as children. Do your children have life insurance policies? Did you? So many of our parents’ got those “cheap” policies from Gerber for a $1/day or some sort of plan for us that we could cash in when we got older if we didn’t want the coverage. Many times, we can add children onto a rider of our own life policies and we don’t worry about them. But did you know NOW is the best time to buy a policy for the price? Once it’s locked in, they’ll never be able to find a lower rate at that age. Life insurance used to be something we let the kids worry about when they got married to protect their own families but with college debt reaching record high numbers, have you thought about if something happens to your child while they are away at college? Who is responsible for all this newly acquired debt? Having a $100,000 life insurance policy at age 20 might not be too far off the mark anymore.

Did you know there are policies out there that they can begin building cash value in and borrow against for college or their first home? There are also policies that allow them to buy up more insurance at certain points in their life when they might want more coverage such as newly married, first child, first home, etc. This is guaranteed issue, regardless of their health. I encourage you to stop and evaluate your family’s situation and make sure that ALL members of your family have life insurance including YOU! After all, it is the one insurance you are guaranteed to use.