Most gifts are material and have little to no staying power, but by giving life insurance, your gift will never expire or go to waste. It may not be wrapped in a fancy bow or come in a big box, but it provides benefits that last much longer than the packages people expect to see under the tree every year.
Not sure life insurance is the right gift for your loved ones? Here are three reasons to change your mind.
Lock in Premium Rates Now
Buying life insurance for a child is one of the best gifts you can give. Insuring a child when they are young and healthy gives them access to some of the lowest premiums out there. When they become an adult, the child can take over the premiums themselves, with the knowledge that they can afford the cost because of the low rate you locked in for them.
You can even buy life insurance for your adult children. Think of it as buying them protection against the unexpected. If 2020 showed us anything, it is that life is unpredictable and we must be prepared in any way we can, especially financially.
Build Cash Value
If you give whole life insurance, you give the gift of cash value which can help your loved ones during a time of need or even into retirement.
If you are buying for a child, they can use the funds as they enter adulthood for the expensive things in life like buying a house or a car. Some kids even use the money to pay for college.
Protection for Life’s Roller Coaster
Life is unpredictable. Giving your child the gift of life insurance protects their future. Whether they are single or married with a young family, if the worst were to happen, there would be money available to handle their final arrangements and take care of those around them financially.
Final Thoughts
Stop fighting the crowds or worrying about shipping delays and give your loved ones the best holiday present anyone can give — life insurance.
A financial gift protects your loved ones’ future, which is the gift that keeps on giving. Even if they take over the premiums in adulthood, you are helping your child start life off on the right foot with financial protection in place.
If you would like to know more about buying life insurance for someone special in your life this holiday season, connect with a First Financial Security agent today.