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Q: |
Do parents really need life insurance for their children, even when they are so young? |
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A: |
YES. A serious illness or accident could make life insurance very expensive, even unavailable, for children when they are adults. |
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Q: |
What kind of insurance is the Young American Plan ®? |
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A: |
The Young American Plan ® is a whole life insurance policy. The policy is good for a lifetime, regardless of future health, military service or hazardous occupation. |
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Q: |
Once the Young American Plan ® is issued, and the premiums are paid on time, can the policy ever be canceled for any reason? |
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A: |
No. The policy can never be canceled for any reason other than failure to pay premiums.
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Q: |
Who can apply for the Young American Plan ®?
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A: |
A child’s parent, grandparent or legal guardian can be the policyholder.
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Q: |
What happens after I submit the application?
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A: |
After the application is approved, your policy will be sent. $1* pays the first month’s premium. After that, the monthly rates are based according to age and can be found through completing a rate quote. This rate will be locked in for life. It will not increase for any reason.
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How much paperwork will I have to fill out to apply for coverage? |
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A: |
Hardly any, it’s easy. It's easy to apply ... just complete a few health questions on the easy online application. Everything is handled online and through the mail. |