03/12/2021
This can be a touchy subject for many parents. But, ask yourself, "would I rather have it and not need it, or need it and not have it?"
A very close friend of mine had a stroke in high school. Yes... he was a teenager in high school, and it was during our junior year. Nobody ever thought a kid with as much energy and charisma, being as athletic as he was, could possibly experience something so devastating. Thankfully, he recovered and it's living an amazing life, building a family today ❤️
I share this story because of the following...
1) He is now uninsurable because of his stroke. So, when he dies, his family won't get a tax-free life insurance death benefit. Getting a policy for your children today protects them and their future family early on, against potential health issues in the future.
2) If he had a life insurance policy with , his parents could have utilized it to help pay the medical bills while he was going through his rehabilitation, instead of spending their savings.
3) Starting your children young helps them develop that fundamental financial principle of putting money away for their future, and it cultivates a positive relationship with money and putting it to work for them.