Juvenile Policy

[WinoBlues]

Humana sells a Junior Estate Builder product. $45/year for $15,000. I think it is $35/year for $10k.

United Heritage used to sell a term to 25 plan like that, convertible Xs 6. I still convert several a year. I would sure like to find another convertible option.

 

[hammerken]

Write the Monumental since you are contracted already and let him know that you would be happy to do it for him and anybody else with a similar mindset.

 

[WinoBlues]

$25,000.00 10 pay = $376.AP or $220.AP 20 pay. Just say'n

 

[TwiLight]

UHL (United Home Life) goes down to Age 0 for the Provider Series WL

Age 1 Male is $90.70 Annual
Age 5 Male is $97 Annual
Age 10 Male is $105.90 Annual.

 

[InsuranceMonkey]

.... A friend contacted me and wants $10,000 policies on his two teenage boys to cover funeral expenses in case something happened to them. I discussed with him the remote chance of something like this happening, but he is adamant. This is what he wants. $10,000 on each boy and no more.
I just wanted some opinions. What would you advise?
Is Juvenile final expense appropriate in this situaiton?
Thanks

Underwriter here. I sense you think it isn't appropriate? I see apps on kids all the time. Daily in fact. Typically as a 10-20k child rider on a parent's policy, but also as a stand alone VUL, UL or Term. (Usually 10-20 year, s/t age)

Many companies will accept up to 100k(stand alone) on a child as long as both parents have inforce coverage at least twice (and preferably more) than the applied for coverage on the child. I've approve coverage on kids at 500k on some very wealthy families.

The point is... hospital expences, burial, family grief counceling, taking time off from work to get your head and heart back together and still pay the bills, it easily exceeds 10k. Easily. I have 4x kids, I have 25k on each one. It gives me the peace of mind that were something tragic to happen, I'd have the financial space to not worry about bills of any kind at a time where I could care less about finances, but finances still need paying. No one gets rich off these little policies. They are appropriate.

 

[WinoBlues]

Underwriter here. I sense you think it isn't appropriate? I see apps on kids all the time. Daily in fact. Typically as a 10-20k child rider on a parent's policy, but also as a stand alone VUL, UL or Term. (Usually 10-20 year, s/t age)

Many companies will accept up to 100k(stand alone) on a child as long as both parents have inforce coverage at least twice (and preferably more) than the applied for coverage on the child. I've approve coverage on kids at 500k on some very wealthy families.

The point is... hospital expences, burial, family grief counceling, taking time off from work to get your head and heart back together and still pay the bills, it easily exceeds 10k. Easily. I have 4x kids, I have 25k on each one. It gives me the peace of mind that were something tragic to happen, I'd have the financial space to not worry about bills of any kind at a time where I could care less about finances, but finances still need paying. No one gets rich off these little policies. They are appropriate.

"If one of my kids dies, the last thing I want to worry about is money"

 

[InsuranceMonkey]

You need money to not worry about money.

 

[WinoBlues]

You need money to not worry about money.

I am going to add that to my line. thanks

 

[inreverse]

GPM, Government Personnel Mutual, has a very good stand alone juvenile program if you are looking outside of Monumental,

 

[WGO]

Thank you all for your help. I am looking at the situation with a new perspecitve.