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Can I purchase a whole life insurance policy for someone else?

Ezt a témát Ella Elizabeth indította 1 éve

Yes, it is possible to purchase a whole life insurance policy for someone else, such as a child or grandchild. This is commonly referred to as a "juvenile life insurance policy" or a "grandchild life insurance policy." The policyholder pays the premiums and is the owner of the policy, but the insured is the child or grandchild. The policy can provide a guaranteed death benefit and a source of savings for the child's future expenses or even supplement retirement income. It is important to consider the child's age and health, as well as the potential financial benefits and costs of the policy before purchasing a whole life insurance policy for someone else. It is recommended to work with an experienced insurance agent or financial advisor to determine the best policy and coverage options for your specific needs.
https://pearlsafe.com/whole-life-quotes/

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