I often think to myself, I wish my parents had bought me a whole life policy when I was a child.  It is truly one of the best financial vehicles that is available on the market and the earlier you get involved the better.   Whatever age you begin the policy  you lock into that mortality and the premium remains level  forever.

The value for the child goes way beyond having a permanent death benefit.  Not only will the child have permanent insurance, but also a cash value that will grow into a great pool of money.  Unlike many financial vehicles the cash value has guarantees and will get better no matter what and will grow.  When selecting the insurance company, you should look for a good mutual company that pays a good dividend.   The cash value will have a guaranteed amount, but usually with a good mutual company the values will be a lot better with the dividend.   The money can be tapped into for college expenses, buying a new car, or as a supplemental retirement vehicle.

When the child starts there own family, they will already have this in place to protect their family.   The amount of cash value and life insurance protection grows tremendously over a long period of time.  In fact, you might be shocked to see what an illustration looks like at age 65 for a policy that was started at the age of 2.  The underwriting is very simple on a childs policy and typically will get approved really quickly with good health.   For more information, a paramount consultant will run you an illustration.