What are these "policies" called? and what information do I need to know? My fiance and I are expecting our first child in November and are trying to get any information we can. Details details! Anything would help. Thanks
2006-09-25 10:39:36 · 3 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance
Youth policy or child policy might be a generic term.
In general, a life insurance policy that 'pays off' at a certain age is called an endowment policy.
2006-09-25 11:07:02 · answer #1 · answered by SPLATT 7 · 1⤊ 0⤋
different companies call them different things. Basically you want a low cost policy that the child can continue until they are age 18 or 21 and then can convert to a regular policy regardless of health at the time. I know a company that calls them a First Step Policy. I've also seen ads on TV from Gerber for these. Check with your auto/homeowners agent and see if they know anybody.
2006-09-25 17:48:22 · answer #2 · answered by mei-lin 5 · 0⤊ 0⤋
Check out the Gerber Life Plan. Also check out about getting an annuity policy. It would also help if you are already married by the time the child arrives.
2006-09-25 19:54:15 · answer #3 · answered by bro_ken128 3 · 0⤊ 0⤋