JUVENILE INSURANCE

Juvenile insurance is insurance written on the lives of children, usually those under age 18. Because the insured is a minor, the applicant is an adult – usually a parent or grandparent – in whom control of the policy is vested. This control is conferred either by making the applicant the absolute owner of the policy or by use of a special provision conferring control on the applicant during his or her lifetime and on the insured when the insured reaches age 21.

JUVENILE WHOLE LIFE POLICY ADVANTAGES

There are many advantages to purchasing a Juvenile Whole Life policy:

*Typically only 1-2 medical questions

*No Social Security Number is required

*Extremely low premiums that will be locked in for the life of the policy 

*Usually include a guaranteed insurability rider to purchase