Term Life for Children (TLC)

  • Provides $25,000 of term life insurance for children age 15 or younger
  • $30 a year
  • Plan provides a level benefit to age 23
  • At 23, the plan can be converted to $50,000 in permanent, cash value life insurance, regardless of health
  • Plan also can be converted, at any time before age 23, to $25,000 in permanent insurance coverage
  • A conversion credit is applied to help offset the first-year premium when plan is converted to permanent insurance coverage

 

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