Young Adult Life Insurance FAQ
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Young adult life insurance is a whole life insurance policy designed for children ages 15 through 17. You are the policyowner until your child becomes 21.
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This valuable plan protects your teen with $5,000 of whole life insurance, the kind that builds cash value. A healthy teen can get $5,000 to $50,000 of permanent whole life coverage.
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Once coverage begins and for as long as the premiums are paid, Gerber Life cannot cancel the insurance for any reason. Only you (or your child after he or she turns 21 and becomes the policyowner) can cancel the coverage.
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As the years go by your whole life policy accumulates cash value over time. This money is available if ever there is a need for ready cash. As an adult, your child will have the option to turn in the policy and receive the available cash value.
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Yes, until your child becomes the policyowner at age 21, you can turn in the policy and receive the cash value.
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The cost of young adult life insurance varies based on the amount of coverage you choose, your child’s age at the time of application and the state in which you reside.
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Parents, grandparents or permanent legal guardians can apply for this policy for the teen in their family. The parent, grandparent or permanent legal guardian who applies will be the policyowner until the teenager is 21.
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Our Young Adult whole life insurance policy is only available by phone at 1-800-704-2180. Remember, it costs nothing to apply and you have 30 days to review the policy!
