Page 18 - Life Assurance

urance is sold as a savings program for
college education.

Advantages of jumping juvenile insurance
include the provision of permanent life
insurance protection even if the child should
become uninsurable later; the establishment of
the savings habit at an early date; and the
establishment of an insurance program at a low
premium age. The disadvantage is that this plan
takes away insurance pounds that might be
better spent on the breadwinner. In the view of
the great under insurance that exists on human
life generally, it is doubtful if much expenditure
for juvenile coverage can be justified.

Payer Clause: Insurers offer what is known as a
payer clause on a juvenile policy which states that if
the owner (usually a parent) dies before the policy
matures, all future premiums are waived until the
child reaches age 21. This clause really amounts to
additional insurance on the life of the parent.

5/2/8 Family Group Policy:

One of the most successful life insurance
packages introduced in recent years is the
family group policy, in which each member of
the family is insured for different amounts. The
head of the family normally obtains the most
coverage and insurance on the spouse and
children is limited to smaller amounts. Not

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