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Children's Life Product Details
What is it? Children's life insurance is low-cost life insurance designed specifically for the needs of children and their caregivers. > Back to Top
Why do I need it? The best way to financially protect your family both now and in the future is by having adequate life insurance for each family member. Providing your children or grandchildren with their own life insurance policy gives them benefits above and beyond what your own life insurance policy offers them. > Back to Top
What are my options? SBLI offers a whole life insurance plan that covers your child for his/her entire life, as long as premiums are paid when due. > Back to Top
Whole Life Insurance SBLI's Whole Life Insurance policy is like other whole life insurance plans: your child is insured for his or her whole life, as long as the premiums are paid when due. Some of the benefits of owning an SBLI Whole Life Insurance policy for your child include: - You can lock in low premiums for life.
- Guarantees that your child will be insured in the future.
- Protects your child even if he or she develops health problems, as long as you continue to pay the premiums, the policy will remain active.
- A portion of your child's policy accrues cash value, which begins to grow as soon as you take out the policy.
- The cash value may be borrowed to help your child with future expenses, like a first car, first home, or college tuition.
- Your child may receive dividends on his/her policy.
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Children's Life Insurance Product Overview
| Whole Life Insurance | | Coverage | For Life. | | Amounts Available | Up to $25K for children age 15 days to 6 months. 10K to 100K for children age 6 months to 15 years. | | Ages Available | 15 days to age 80. | | Riders Available | None. | | Convertible | N/A | | Premium Payment Options | One-time payment, annual, semiannual, quarterly, and monthly (monthly must be by Automatic Payment Plan only). | | Free Look Period | 30 days. |
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What is the fine print? - Our Children's insurance plans are available in: Arizona, California, Colorado, Delaware, District of Columbia, Georgia, Indiana, Maine, Maryland, Massachusetts, Michigan, New Hampshire, New Jersey, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Vermont, Virginia, and West Virginia.
- Paramedic exam: Children under 15 are not required to take a paramedic exam. The parent answers the medical part of the question (Part II) on the child's life. Children age 15 and older will be scheduled for a simple paramedic exam - at no cost to you - in the convenience of your home.
- Guarantee: All of our children's life insurance plans have a 30 day, money-back guarantee. Take time to make sure your policy is right for you.
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What is my next step? Now that you've determined that a low-cost children's life insurance policy from SBLI is right for you, here's how to get the information you need to get started! - Request information and an SBLI representative will call you to answer any questions about our children's life insurance products.
- Consult our Glossary of insurance terms
- Read more about the background of Massachusetts-based Savings Bank Life Insurance (SBLI), which has been providing life insurance since 1907.
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