Tag: life insurance

If you have grandchildren, you probably have witnessed them being showered with toys and gifts for their birthdays and holidays. Just how many toys does a child need?

For those in the Colorado Springs, CO, area, Westco Insurance LLC has a unique idea that can literally pay dividends for years. Consider the gift of a permanent, whole life insurance policy.

Why an Insurance Policy for Grandchildren Could Be a Good Idea

Yes, it may be a little unique, but buying a life insurance policy for a child makes sense.

• A permanent life insurance policy can build value over the years. This equity can be used to help pay for college, buy a first car, or even get an early start on a retirement plan.
• Life insurance is more affordable when young. This means you can secure a large amount of insurance at an affordable price.
• It provides life insurance protection while it builds value. This also helps assure insurability.
• You can choose payment options. You can pay for the policy upfront in a lump sum or make payments over time, which provides flexibility in budgeting.
• As a grandparent, you probably appreciate how quickly time passes. The longer a whole-life policy is in force, the more opportunity it has to increase in value.

Learn More Today

If you live in the Colorado Springs, CO, area and would like to discuss the options for giving the lasting gift of life insurance to a grandchild, we invite you to contact us at Westco Insurance LLC. We can show you how an affordable policy can build value over the years, quote a price, and get you started. Contact us today.

At Westco Insurance LLC, we are pleased to serve families in the Colorado Springs, CO area with various valuable insurance products. Among these insurance programs is life insurance.

We are here to help answer your questions, explore your options, and secure protection that fits your budget. We can also explain some of the benefits of insurance that may not be fully appreciated.

Here are five aspects of life insurance that you should be aware of.

1. Quick Access to Cash Following a Claim

A life insurance policy can quickly provide needed cash to a family following a death, helping ease the stress of a difficult time.

2. Tax benefits

Life insurance proceeds are generally tax-free, meaning a family would receive the full value of their policy.

3. Accidental death benefits

Many life insurance policies may pay a multiple of the face value should death occur as the result of an accident.

4. Easy to change beneficiaries

The beneficiary of a life insurance policy can be easily changed. This can be helpful in situations such as marriage, divorce, or death.

5. Potential to build cash value

Many whole life or permanent insurance policies have a cash value element that can build equity as payments are made. This is a value that can be tapped into for future opportunities and emergencies. Ask our agent if you want to build cash reserves with your life insurance policy.

Get a Life Insurance Quote Today

Because life insurance premiums are based on the insured’s age and health, it may never be more affordable than right now. If you live in the Colorado Springs, CO area and want to see how affordable it may be, contact us at Westco Insurance LLC.

We look forward to assisting you in protecting your future.