Jody Horetski Life Insurance Consultant

When parents and grandparents are trying to figure out what to buy a graduating senior from high school or college, life insurance is probably not what comes to mind, but should be considered. 

As caring protectors of our children, we want to make sure our young adults are financially prepared for the future.  There is no better time than now to consider a “Whole Life” policy, when they are young, healthy, and insurable because we can’t determine exactly when accidents or terminal diagnoses may occur and cause them to be uninsurable.  In order to keep our loved ones financially covered in difficult times, it’s important that they have a policy in place that can support them.  Not only in death, but for living debts, such as mortgage, unsecured loans with high interest rates, medical bills, and credit card liability. 

Consider a Guaranteed Whole Life policy which provides a combination of guaranteed tax-deferred cash value accumulation and multiple payment options such as Level-pay, 10-pay, Single-pay, and Paid-Up-at-65.

Buy it before they attend college.  We’re not talking about a significant difference in premiums if you buy it early, but it will give the cash values the opportunity to build.  These days $100,000 would be considered a starter benefit. $250,000 to $500,000 would provide solid protection as they begin their own families.

It may not seem like the most exciting college graduation gift; however, a whole life plan is likely to be the most enduring. Ten, twenty or thirty years after all of the other gifts have been forgotten, their first life insurance plan will still be providing your children with meaningful value.

Giving a life insurance policy is a great idea for the upcoming graduations, but they also make excellent gifts for birthdays, or life-long milestones. 

No matter the age or stage of life, life insurance can be a valuable protection tool and Wholehan Marketing is standing ready to help consumers at every stage of life find the financial protection they need for their families and businesses.