Being a parent or grandparent is one of the most important jobs an individual can have. They nurture and protect their children to grow up as strong and self-sufficient adults. Our popular Youth Life plan combines the very low cost of insurance of younger children with the accelerated payment plans of Single or 20-Pay to purchase coverage that is paid up for the child's entire life without additional ongoing premiums. A fully paid life policy will give your adult child a solid base of coverage for their financial plan without any cost to them. It may seem strange to think of buying life insurance on a child or grandchild but what other gift could you give that would last your child's entire life? A paid-up Youth Life plan is a smart idea when you consider the long term impact on your child.
Youth Life is a whole life product that is issued on children ages 0-18 and provides lifetime level coverage to age 100. This product can be purchased by parents or grandparents and offers coverages from $5,00-$25,000. Our 20-pay plan is the most popular choice because after 20 years of premiums, the policy is paid up for the child's entire life.
Accelerated Payment Plans
We offer plans that provide paid-up coverage for a lifetime benefit. Choose from Single Pay or 20-pay.
Life insurance premiums increase with age. The Single-Pay or 20-Pay option allows you to lock in lifetime paid-up coverage at childhood rates, which are the lowest possible cost.
Once the policy is fully paid up, our polices give you permanent coverage for the insureds entire lifetime and cannot be canceled even if your child develops health problems or has an accident making them insurable in the future.
We make it easy to purchase a life insurance plan for your child or grandchild with an easy application with only three medical questions and limited underwriting.
Builds a Cash Value
Benefits of a policy's cash value:
- Guaranteed Growth with tax-deferred
- The value will never decrease
- Use it anytime for what you need
Ready to insure your biggest asset?
You insure your home and auto but the most important asset to insure is you and your ability to provide income for your family needs.
Determining the right product and the amount of coverage may seem like a daunting task but with the experience of our local agents in your community, they'll help you find the right coverage. AFR Life is prepared to help you protect what matters.
Find an AFR agent today and start exploring the coverage options that best fits your needs!
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Youth Life Frequently Asked Questions
What ages are eligible for the Youth Whole Life policy?
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Ages 2 weeks to 18 years old are eligible for the Youth Life coverage.
What payment plans are available for Youth Life?
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AFR Life offers several accelerated payment options including Single Pay, 20-Pay, Pay to 65, in addition to the regular premium to age 100 schedule. With the accelerated plans, the policy can be "paid up" meaning that no additional premiums are require while the coverage remains level for the life of the insured. This can lower the total cost of insurance.
Why should I consider buying insurance on a child?
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Because the changes for mortality are low for young children, the premiums rates are very low. If you combine the low rates of a child and the Sing or 20-Pay payment plans, you can purchase lifetime coverage for your child at the lowest cost possible. Eventually, the child will grow up and need insurance on their own. This is an excellent way to pay less for the same lifetime coverage.
What is the underwriting process for Youth Life?
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AFR Life offers a Jet Issue underwriting for amounts of $25,000 or less. Jet Issue consists of 7 medical questions. If all questions are answered 'No', the policy is issued. If 'Yes' answers exist, additional underwriting is required.
Why Choose AFR Life?
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Insurance terms, definitions and explanations are intended for informational purposes only and do not in any way replace or modify the definitions and information contained in individual insurance contracts, policies or declaration pages, which control coverage determination. Such terms may vary and exclusions may apply. Other discounts may be available on an individual basis. All policies are different and your policy may not qualify for all discounts listed.
AFR Insurance is proud to have earned a Financial Stability Rating of A from Demotech, Inc. The Financial Stability Rating is an indicator of an insurance company's strength. An A rating means AFR has "Exceptional ability to maintain liquidity of invested assets, quality reinsurance, acceptable financial leverage and realistic pricing while simultaneously establishing loss and loss adjustment expense reserves at reasonable levels."
Demotech awards this rating after performing a thorough review of a company's financial statements. This rating is independent of the size of a company due to Demotech's belief that a small, well-run insurer may outperform a larger insurance company.