DreamSecure Children’s Whole Life Insurance
Life Insurance Policy
- Secure lifelong coverage for your child
- Financial protection that builds cash value over time
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What is whole life insurance for children?
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The Benefits of Whole Life Insurance for Children
Long-Term Protection with Payment Options
The cost of life insurance typically increases with age. Buying a children's life insurance policy lets you lock in protection with 10- and 20-year payment plans.**
Security of Future Insurability
Even if they become ill later in life, the Guaranteed Purchase Option benefit gives the owner the ability to buy additional life insurance at certain ages and life events in the future.*
Cash Value That Grows
A children's whole life insurance policy builds cash value over time. The earlier you start, the sooner it accumulates cash value.
Protection for Their Future
Buying whole life insurance for children or grandchildren is an excellent way to set them up for success. One day, they might have a family of their own. A children's life insurance policy can also help them financially protect their families.
Three Levels of Coverage
Multiple coverage options make DreamSecure Children’s Whole Life Insurance more budget friendly. Select the death benefit amount of $25,000; $50,000; or $75,000 with a 10- or 20-year payment plan.**†
Frequently Asked Questions
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This is a brief description of coverage and is subject to policy and/or rider terms and conditions which may vary by state. Fixed and guaranteed premiums are statements about the policy as determined at issue, and any changes made to a policy may affect the premium and are subject to our underwriting rules. The words lifetime, lifelong and permanent are subject to policy terms and conditions.
*The Guaranteed Purchase Option may be exercised only at specified dates and life events and is subject to benefit amount limitations.
**The 10-year payment option for the DreamSecure Children’s Whole Life Policy is a modified endowment contract. This means that pre-death distributions will generate taxable income to the extent there is taxable gain on the policy. A 10% federal tax penalty applies to the taxable amount of a distribution received before the policyholder reaches age 59-1/2. Neither American Family Life Insurance Company nor its agents are authorized to give tax or legal advice. You should consult a tax advisor for any questions you have regarding a modified endowment contract.
***Any loans taken from your life insurance policy will accrue interest. Any outstanding loan balance (loan plus interest) will be deducted from the death benefit at the time of claim or from the cash value at the time of surrender. If the loan balance grows too large for the cash value to support it, the policy could terminate.
†The death benefit provided and your cost will vary with the death benefit you select.
Policy Forms: ICC17-223 WL, L-223 (ND) WL, L-223 WL, ICC17-224 WL, L-224 (ND) WL, L-224 WL
Life insurance underwritten by American Family Life Insurance Company, 6000 American Parkway, Madison, WI 53783.