Investing in Your Child's Future
College costs keep rising. And today many graduates enter the work world with hefty student loans to repay. It can be more than a little overwhelming
The main purpose of life insurance is to provide a death benefit. And it can also help you pay for part of your child’s education. It can be a good way to help cover some college expenses, whatever the future holds.
You purchase a cash value life insurance policy.
The cash value in the policy grows tax deferred through the years.
When your child goes to college, you may be able to use tax-advantaged distributions from your policy to help pay the costs.
If something happens to you, the death benefit can help pay for your child’s college education, when the time comes.You can use the cash value for college expenses and for other needs, too. It’s flexible.
And the cash value may not be considered an asset when you apply for financial aid.
With proper planning, you can help protect your family today. And give your child a head start on saving for college in the future.