Holiday list: Give the gift of life insurance!

The annual holiday search is on for the perfect gift for your children or grandchildren. You can spend a lot of time and effort buying gifts … it can be overwhelming. You recognize that as children grow, their interests change. Last year’s trending gifts become this year’s trash.

What if I told you there is a gift you can purchase that you won’t have to throw out and that can benefit a child for years to come?

Instead of racing from store to store to acquire this year’s trending gift, why not consider giving a gift that will last a lifetime? Although it may not be as glamorous as this year’s hot toy, life insurance can provide lifetime coverage and set children up for financial security in the future.

Whole life insurance provides lifetime coverage and cash value growth that make an excellent gift from a loved one.

The benefits of early life insurance ownership are immeasurable and make life insurance a wonderful gift:

  • Low premium costs
  • Time for cash value growth
  • Protection for future insurability

Life insurance is less expensive than you might think. Many consumers overestimate the cost of life insurance, especially younger generations. LIMRA, a leading life insurance industry research organization, found that 44% of millennials overestimate the cost at five times the actual amount.

Early life insurance coverage also can provide protection from loss of insurance because of health issues that might make life insurance difficult or impossible to obtain later in life. Once the policy is active, the insured isn’t required to go through the underwriting process ever again, as long as all premium payments are made on time. This benefit helps ensure that your insured child can keep life insurance coverage even if he or she has health issues later in life.

There is still plenty of time this holiday season to give the gift of financial wellness and peace of mind. Your local, independent insurance agent can help you find a policy for your child or grandchild that will provide appropriate coverage and fit within your budget.

Neither The Cincinnati Life Insurance Company nor its affiliates or representatives offer tax or legal advice. Consult with your tax adviser or attorney about your specific situation. For policy service and additional information, speak to Landmark Risk Management & Insurance. For a complete statement of coverages and exclusions, please see the policy contract. All applicants are subject to underwriting approval. Products and riders available in most states.