If you’ve ever watched kids open gifts on a birthday or Christmas, you know how quickly they attack a pile of beautifully wrapped gifts. Minutes later, you’re left with a heap of paper, and a load of gifts that kids unfortunately lose interest in all too quickly.

With this in mind, why not consider gifting life insurance? Unlike trendy toys or clothes, life insurance provides a lifetime of benefits.

Why it’s the perfect gift:

1. Life insurance policies protect a child’s insurability and making it easier for him or her to buy additional insurance down the road.
2. A life insurance gift can build cash value providing resources for big ticket items later in life, such as education, a home, or other costly expenses.*
3. Purchasing a policy when you are young and healthy helps you lock in low rates. This means you can purchase a substantial amount of life insurance now for big returns later in life.
4. By investing in life insurance for children, you’re setting a good example. Years later, they’ll not only appreciate your gift, but also see the value of financial planning and be more likely to do the same.
5. Life insurance is more affordable then most people think. In some cases, cheaper than some of the toys under the Christmas tree.

Just think of the potential benefits that a child will reap from a life insurance policy long after the toys, gadgets, and gizmos are piled up and forgotten in their toy chest. 

The next time you need a gift for a child in your life, save time shopping and instead consider what they may appreciate in the future. For information on purchasing life insurance for your loved ones, contact a Catholic Financial Life advisor today!

* Cash value typically becomes a useful source of funds only after several years of premium payments, which allows the cash value to build up. Each method of utilizing your policy’s cash value has advantages and disadvantages and is subject to different tax consequences. Surrenders of, withdrawals from and loans against a policy will reduce the policy’s cash surrender value and death benefit and may also affect any dividends paid on the policy. Policy loans and automatic premium loans, including any accrued interest, must be repaid in cash or from policy values upon policy termination or the death of the insured. Policy owners should consult with their tax advisors about the potential impact of any surrenders, withdrawals or loans.