Juvenile Whole Life Insurance

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What is juvenile whole life insurance?

Juvenile whole life policies offer permanent protection by insuring the life of a minor or young adult to help build a strong financial foundation.

Why should I purchase children’s life insurance?

Lifelong protection

  • Guarantee future insurability – the child will have protection in place regardless of his or her future health

  • Supplement income/retirement.

  • Lock in childhood rates for life, making premiums affordable

  • Build cash value over the life of the policy, which can be borrowed against tax-free for any purpose

  • Provide an everlasting gift to mark a special milestone in the life of a beloved child or grandchild

Product features and benefits:

Face amounts as low as $25,000

Face amounts as low as $10,000

Permanent coverage that never expires

Permanent coverage that never expires

Available for ages 0 to 16

Available for ages zero to 16

Access to cash value available through policy loans

Access to cash value available through policy loans

Options to completely pay for the policy in five or ten years

Options to completely pay for the policy in five or 10 years

Optional riders

Offers option to purchase additional life insurance at specified intervals regardless of child’s future medical circumstances.

Allows for a waiver of premium on the child’s policy if the adult applicant/payor becomes totally and permanently disabled or passes away.

How do I know if my child is eligible?

Step one is completing an application on behalf of the child. When the insured is a minor, the policy is generally owned by the purchasing adult until the child reaches the age of majority. Our underwriters will review the child’s medical history to determine if the application is acceptable, and to identify risk classification. The premium amount will be determined in part by the amount of insurance coverage requested, the child’s age, gender and risk classification.

Why Bankers Life?

Simplified application process

Our knowledgeable insurance agents/producers sit down with you to understand your preferences and goals. They’ll provide you with simple, clear choices and help customize a policy that meets your individual financial needs.

Personalized approach

With a history dating back to 1879, there are some things that never change. At Bankers Life, that means taking a personalized approach to help protect the individuals and families we serve. We focus on helping you improve upon your financial security, particularly as you enter and navigate retirement.

Service you can trust

Our goal is to provide excellent service to every policyholder and make your life easier when it comes to your claims. In 2018, Bankers Life paid life insurance claims to over 695,000 policyholders, totaling $198 million.

Bankers Life is accredited by the Better Business Bureau with an A rating as of April 2018, in addition to receiving an A- (Excellent) rating by A.M. Best Company for our financial strength.