Readers Question: “Why buy whole life insurance now for a happy, healthy child and grandchild?”

There are three major reasons to consider buying whole life insurane for a child or grandchild.

It builds cash value for future responsibilities. After just one year of coverage, Grow-Up starts building cash value and that money is available whenever you need it. After 20 years of coverage, your child or grandchild can turn in the policy and collect a sum of money that’s at least equal to all premiums ever paid. That’s different from term life insurance plans for children that don’t build any cash value.

The low childhood premium stays the same even as the policy amount doubles. Premiums are less than $1 a week at most enrollment ages. The sooner you apply, the lower the lifetime premium for your child or grandchild. During the year your child or grandchild is 21, the insurance amont doubles from $5,000 to $10,000, and the low childhood premium stays the same.

Additional insurance guaranteed, even if health issues or accidents keep other companies from insuring your child or grandchild as an adult, it is guaranteed that the Grow-Up policy owner has the right to buy additional coverage from the insurance company. He or she can purchase additional coverage at standard premiums during ages 21 and 28, providing up to $50,000 total insurance.

Belinda’s husband passed away and her question to me was:”What should you do if the life insurance company denied you the claim money saying the application submitted was untrue about the insures health?”

Delaware’s agricultural output consists of poultry, nursery stock, soybean, daily products and corn. Its industrial outputs include chemical products, processed foods, paper products and rubber and plastic products. Delaware’s nature preserves are located within Brandywine Creek State Park: Tulip Tree Woods, a 190-year-old tulip poplar, and Freshwater Marsh. Brandywine Creek State Park is an outstanding place to see wildflowers, songbirds, deer, and other flora and fauna. Many species of hawks can be seen migrating over the valley from mid-September to mid-November.

In reply to Belinda question: If you know you’re right – send them letter a registered letter and point out where they are wrong. If that doesn’t work, contact the Insurance Commissioner, your agent or an Attorney.

The insurance commissioner is there to protect you and the insurance companies as well. If there are lies on the application, you are entitled to a refund of the premiums paid. If the statements were true, you’d better get a good attorney, because the insurance company already has a good attorney.