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Could you provide pro's and con's on whether one should purchase Life Insurance for a teen (age 15), and if so what kind would be the best....e.g. Whole Life, Universal, 20 payment etc.   Any thoughts and advise on this would be apprciated.   Parents are looking for her to be able to purchase and build up a cash value etc......

 

Thanks in advance.

13 REPLIES

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Yes!! The day each of my children were born they were a rider on my insurance $25,000.00 (we did $15T until I lost my Daddy & realized how expensive funerals are.) Our insurance agent recommended we keep or get an insurance policy as or before they join the service...incase they are severely injured & are UNINSURABLE when then return. My oldest son join the Air Force after 9-11 & of course got the military insurance. As he was processing out he dropped it to the free 50T they get. Sadly we lost him Sept 9...thankfully we had $75,000.00 to cover all his funeral expenences & pay any bills he had. When our youngest son was sent to Afghainstain at age of 18 he managed to rise to the rank of SSGT by the time he was 191/2 but he was injured bad enough he had to take a military disability. I've always told people to get as much as they can afford while young. Do not get TERM unless that's all that's affordable because somewhere around 30-40yrs old the rates are going sky high!! Universal is good but you do need to meet with agent every couple of years to go over policy. We have a garanteed rate & policy amount until we are 99yrs old. Best suggestion would be to get that & again get as much as is affordable. Without being insurance poor. I'd also suggest you or she talk to family & friends to find an agent they know & trust. I hope that helps...sorry it's such a long answer. USAA has people to talk to also. We're the 2nd out of 5 generations to be members & my husband & I have been members for over 40yrs. Good luck...
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As a reminder, please no name calling or personal insults. We've removed two threads per our Moderation Guidelines. Thank you, everyone!

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Thank you for removing both remarks. I was only offering my opinion about life insurance. I just wish you had SEEN & removed it BEFORE I saw where "I'd HAPPILY take life insurance OVER my sons LIFE." That remark has had me so VERY hurt & upset since I saw it..!! It's an UNFORGIVABLE remark!! Until you've lost a child you have NO idea how DEEP the pain you feel is. A piece of my heart & soul went with him...!! Thank you again for removing them.
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Thank you so very much for your kind reply.   I am very sorry for your loss and for your efforts to share with me.....I'm quite sure that each day is difficult.   Thanks again for your reply to my message.

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Disregarded,

It's sad when someone is so bored with their life, that they have nothing better to do than to troll the usaa member community board. Are you even a member anymore? May I suggest a therapist and/or psychiatrist? It sounds like you could really use some help with how to deal with your unnecessary anger and aggression.

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Member "Disregarded" comment has been removed  per our Moderation Guidelines. Thank you

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I'm not the one profiting from death. Those are the ones that need therapy and you can call me whatever you like, my statements are true, factual and defensible in any legal proceeding.Just because you don't like my speech, doesn't mean I don't have right to express it, even if the truth is more than some can handle, not my issue. So for those that cannot live with the fact of being a death profiteer, then don't profit off of death. Just because something is legal doesn't it from being morally reprehensable
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Just waiting for my truthful statements to be deleted yet again. Good work mods, supress truth and free speech at every turn.
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Dear Disregarded,

As mentioned before, any personal attacks or use of inappropriate language will be removed per our moderation guidelines. You have been advised of this on multiple occasions. Further posts of this nature will be removed without response. Thank you