Life insurance is a gift that never goes out of style, even if you don’t tie it up with a bow (but you could!). Life insurance is quickly becoming the preferred option for individuals looking to give—or receive—a present that will last a lifetime. More and more individuals are selecting presents that may provide a solid foundation and stability as consumers shift from purchasing things to buying experiences, and as a desire for financial security becomes a goal. Here are three reasons to give the gift of life insurance to a child (or another loved one).

Assurance of Insurability

You desire nothing more for your child or grandchild than a good future. You may protect yourself and your loved ones by obtaining life insurance at a time when their insurability may be called into question. Many diseases might make it impossible to qualify for life insurance. When you get a life insurance policy for a kid when they are still young, you are ensuring insurability before a major ailment develops. 

Purchase Guaranteed

When providing life insurance as a present, you may have the option of purchasing a Guaranteed Purchase rider on certain plans.This rider ensures that the policyholder, regardless of medical condition, can obtain extra insurance. This would enable them to continue obtaining life insurance, allowing them to establish a level of protection that would benefit them and their family for many years. 

Taking Precautions Against the Unexpected

At the end of the day, life is all about the unknown. You can’t anticipate future health issues, financial responsibilities, or how a person’s life will be in five, 10, or twenty years. What you can do is contribute to safeguarding that future. When you get life insurance for a loved one, you’re investing in something that will remain long after the wrapping paper has been discarded and the toys have been put away. 

While life insurance is a wonderful present, it does need some forethought. You’ll need to check in with the beneficiaries mentioned on a frequent basis to make sure you still want to include them. Clarify that the insurance company is aware of the beneficiaries’ contact information. There are several legal considerations to make when naming children as beneficiaries. Most importantly, make sure someone knows you have a policy so that it will be paid out if something happens to you. If you have additional questions about gifting life insurance please contact Panichelle Insurance at

Leave a Comment