| Q. |
Do parents really need life insurance for their children,
even if they are still young? |
| A. |
Yes. A serious illness or accident could make life
insurance very expensive, even unavailable, for children
when they are adults. |
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| Q. |
What kind of insurance is the Young American Plan®? |
| A. |
The Young American Plan® is a whole
life insurance policy and is available for children ages 0-25. The policy is good for
a lifetime, regardless of future health, military service or hazardous occupation. |
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| Q. |
What happens to the child's coverage at age 25? |
| A. |
Absolutely nothing! Coverage continues and the premium payments remain the same! |
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| Q. |
Can the coverage amount be increased? |
| A. |
Yes! After the first premium notice the policyholder is given the
opportunity to increase the face amount by $5,000. Plus from time
to time you may be given the opportunity to increase the coverage
amount of the policy by $5,000 - providing additional protection
against inflation. |
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| Q. |
Once
the Young American Plan® is issued, and the premiums are paid
on time, can the policy ever be canceled, for any reason? |
| A. |
No. The policy can never be canceled for any reason other than failure
to pay the premiums. |
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| Q. |
Can a grandparent apply for
the Young American Plan® for their grandchildren? |
| A. |
Absolutely. A child's parent, grandparent
or legal guardian can be the policyholder. |
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| Q. |
It only costs $1* to start
what happens after that? |
| A. |
After the introductory period, the monthly rate is based upon the
child's age. This rate is then locked in for life. It will not increase
because of changes in age, health or occupation. |
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| Q. |
How much paperwork will I have
to fill out to apply for coverage? |
| A. |
There is a short application with a few yes or no health questions. Everything is handled online and through the mail. |
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