What is the Best Children's Life Insurance Product?

Jun 3, 2013

  1. dbracknell
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    dbracknell New Member

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    Hey, I want opinions. What is the best Children's permanent life insurance product out there?:1err:
     
  2. deadhead
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    deadhead Guru

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    Columbian Life and RNA are your best bets, Loyal American is your best bet for accident and CI.
     
  3. Cory
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    Cory Guru

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    I've always been fond of EIULs with different funding options.
     
    Cory, Jun 4, 2013
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  4. scagnt83
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    scagnt83 Worldwide Expert of Everything

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    I would strongly disagree with this statement!

    To purchase a non-participating level death benefit simplified issue policy on a child is close to a waste.

    First, there is no reason to do SI on a child unless they have health issues. You will just pay more for the same level of coverage.

    Second, a child needs an increasing DB, not level.
    In 20 years that small level DB will be pretty much worthless, and most likely they will just drop the policy.


    Use a quality Par WL product like ON, MM, Guardian, etc.
    The DB will increase with inflation and it will continue to be a relevant DB. It will be something they can keep for life.

    You can do the same with an IUL or UL using opt2 & GPT.
    Na & ING are 2 that will do low face ULs.


    Also, these better quality products have Guaranteed Future Insurability Options on them. So if the child/adult ever becomes uninsurable, it will give them the opportunity to get more coverage with no questions asked.


    I wouldnt sell Columbian for a child's policy to my worst enemy...
     
  5. deadhead
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    deadhead Guru

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    Who said it was the SI product. Know of what you speak before opening your mouth
     
  6. scagnt83
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    scagnt83 Worldwide Expert of Everything

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    I wasnt aware Columbian had anything other than SI or GI. That is pretty much all they are known for.

    Still Par WL (or increasing DB UL) is the most suitable for a child. And im 99% sure RNA does not have one.

    From their website it seems CL actually does have a Par WL.
    Since I have never once seen it on a competitive spreadsheet I would be skeptical about the quality of the product. Also, according to their website, it does not offer a Guaranteed Insurability Rider like MM, ON, & Guardian do.
    Do you know what their Dividend was last year?


    Even still, neither company matches the quality of the others mentioned. MM has excellent rates for kids, a stellar product, & stellar financial ratings.
     
  7. deadhead
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    deadhead Guru

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    Columbian has two underwritten whole lifes. RNA has Essential Life. I have my granddaughter on on Columbian. 75K face with RPU in 20 of 50k is 26 a month.
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    RNA offers a guaranteed insurability rider
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    I assume MM is Mass Mutual
     
    Last edited: Jun 4, 2013
  8. Larry Tew
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    Larry Tew Guru

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    That's professional. Based on the posts so far, it looks like the other posters assumed the OP was asking about the TYPE of product, not a particular company.

    Even if the question was about a particular company, what do you base your recommendation on other than they happen to be companies you're appointed with?
     
  9. dbracknell
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    dbracknell New Member

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    I was asking both best company and the product you recommend for that product. I am wanting to offer the child insurance and i have a 2year old daughter whom i want to give coverage to that she Will have for the rest of her life. Something else i would like to know is if there is a term policy that will give her a return of premium at age 18-20. To help her with college. I am both wanting to offer to my clients and write it on my child. Thanks.
     
  10. critter
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    critter Expert

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    I happen to offer that product. Give me your number and we can set up an appointment. Remember to bring your checkbook.
     
    critter, Jun 4, 2013
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