Routinely we get calls from parents, seeking to obtain life insurance on their young children. Unfortunately, sometimes that child has a severe health condition and is uninsurable.
We now have a solution with one of our highly competitive term (and UL) carriers! When a parent purchases their own policy with the Child Rider, all children will be covered on this rider, up to $10k per child, regardless of health. If both parents apply, they can get $20k per child ($10k child rider on each parent’s policy). This child rider is convertible to a permanent plan, without evidence of insurability, up to 5x the purchased rider amount.