M.C.D. Financial Services
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No Exam Life Insurance
Plans For Children
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No Exam Life Insurance is What We Do
If you need life insurance for your children, you have come to the right place. We have made available up to $150,000 in life children for your children and grand-children. You have a choice of Term life for very low rates, whole life for guaranteed rates and cash values and Universal life insurance for cash value and flexibility. The choice is yours and the process is very fast and simple.
UHLNo Exam Children Life Insurance -
GTL
Fidelity LifeChildren Life Insurance -
Protective LifeAge Range Accepted Priced The Most Available with NO Exam & Fast Approval Whole Life
Questions or problems? e-mail us or call: 866-613-3636No Exam Term Life Insurance for Children
People select term life insurance for one main reason, the cost. No Exam Term life insurance for children is by far the lowest priced plan available. The most popular plan is the 30 year term life insurance plan. For ages 20 to 29, the 100% money back rider may be available. What this means to your child is that at the end of the 30 year period, your child receives 100% of his/her money back. The money back plan is often a good alternative to a cash value plan.
No Exam Universal or Whole Life Insurance
This plan is by far the most popular plan for children. It offers the advantage of easy approval, level rates for life and cash value.
The easy approval for no exam life insurance UL/WL means that, on the average, you receive an answer within 36 hours (not weeks.) With its level rates, as opposed to increasing rates after a determined period (20 or 30 years) you do not have to worry about your child or you receiving an increase in premium at some pint in the future when rates would be higher. The most popular feature of this plan is the cash back feature, which is often used fro college expenses (when well funded - ask us) and often does not have to be reported on financial aid forms. What that means to you and/or your child is that more funds are available from government agencies while retaining the advantages of the cash value in the policy.
Making The Right Decision with Life Insurance for Children
Emotions run high when parents and grandparents plan for a child's future. If you are considering life insurance for your child, it's a good idea to step back from the sales pitches and consider your and your child's needs before you make a purchase decision.Often parents and grandparents are pitched "special opportunities" by insurance agents to add children to their policies — opportunities that the agent claims come up only every few years — so there's pressure to make a decision right away. Before you buy, ask yourself what benefit comes of buying life insurance on your child. Because the purpose of life insurance is income replacement after a death, and children generally do not provide income, it may not be the right purchase for you.
However, one of the best reasons to insure children is to cover final expenses after a death, such as funeral arrangements, which can range from $5,000 to $20,000. The average family may not have the funds for those expenses, and life insurance can help.
Buy with your head, not your heart
If you buy a policy on a child, most policies have an option for the child to buy additional insurance when he or she comes of age — a sales pitch suggesting that children will have trouble buying insurance when they are right out of college, for example, and on their own for the first time. But the reality is that most young adults can easily obtain insurance coverage for reasonable rates.
If you are worried about funeral expenses, you can buy term life insurance policies with a small face value to cover them. Of course, if you have the means, you can instead save enough money for such emergencies. That way, the money is available for other needs, such as education or buying a new home, and not just if an unlikely disaster strikes.
