When your kids are young and healthy, most likely the last thing on your mind is life insurance for them. But you should be aware that the younger your child, the lower the rate. You can ensure your peace of mind at a premium rate that will never be lower than it is today. Which makes now exactly the right time to consider USBA Children’s Group Whole Life Insurance.
It Pays to Start Early
When you purchase USBA Children’s Group Whole Life Insurance, the policy is guaranteed for the life of your child—at a permanent, predictable premium rate, provided premiums are paid when due.*
Over time, your child’s policy will accumulate a cash value. If you terminate your policy after some level of value has accrued, you can surrender the policy for its cash value. As an alternative, you can exchange it for an amount of paid-up insurance. That reduced paid-up insurance amount will continue to build its own cash surrender value.**
The cash value can also be accessed through loans from the policy. Loans against your policy accrue interest and decrease the death benefit and cash value by the amount of the outstanding loan and interest.
4 Things You Should Know About USBA Children’s Group Whole Life Insurance
- $5,000 of coverage starts at $1.60 per month1
- You can select your coverage amount from $5,000 to $25,0002 (in $1,000 increments)
- Your child age 1 year through 17 years is eligible
- Your policy comes with our 30-Day Free Look
Note: Coverage can be rescinded in the first two years if a material misstatement regarding your child’s health is made in the application for coverage.
Term Life Coverage for Your Children
Alternatively, when you purchase Group Life Insurance coverage for yourself through USBA, you can add Children’s Term Life coverage via a rider. It covers your eligible children (unmarried children ages 14 days through 22 years) who are not eligible for USBA Membership.***
The monthly premium is just $1.50 per unit—and each unit covers all of your eligible children.
Ready to Apply?
Learn more about USBA Children’s Group Whole Life and how to apply for coverage. If you need help, you can call one of our USBA Product Specialists at 800-821-7912, Monday through Friday, 9:00 am to 4:00 pm, Central time.
*All guarantees are backed by the claims-paying ability of the issuer.
**Reduced paid-up insurance: The amount of life insurance for which you can surrender your Children’s Group Whole Life Insurance and on which no further premiums are required to keep it in force. Complete details are in your Certificate of Insurance.
***Adopted/foster/stepchildren must be dependent on the Member for over 50% of their support. If both parents are insured with USBA coverage, only one parent may request Children’s Coverage. Each $25,000 of USBA Group Term Life coverage which you request allows you to apply for one unit of Children’s Coverage. The maximum is four units. Children’s Coverage can continue as long as premiums are paid when due, you continue to be insured under a USBA-sponsored Group Life Insurance policy, and your children remain eligible.
1Monthly rate for a one-year-old dependent female child for $5,000 guaranteed lifetime coverage.
2Note: There is an aggregate maximum per child of $25,000 of Life Insurance under all USBA Group Life Policies. $25,000 aggregate maximum includes all child coverage under Group Policy G-5393-0 and G-5393-2.
USBA is a not-for-profit Association that provides group life insurance, health insurance supplements, and other products and services to military personnel, Federal employees, National Guard and Reserve members, Veterans and their families.