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5 Reasons Why Life Insurance is a Great Christmas Gift

Woman hugging man after gift

The Christmas season is fast approaching, and finding the right gifts for our loved ones is at the top of our minds. You may not consider life insurance an ideal gift, but it may surprise you that it can be, particularly for the younger members of your family. Read five reasons why buying life insurance can turn out to be a gift that keeps on giving:

A Financial Cushion for the Future

When a family member is young and healthy, a life insurance policy can be purchased at a very low rate. It is best to consider whole life insurance, as this is an asset that grows over time. Once it reaches a particular value, it can be borrowed against for college tuition, a down payment on a home, or other financial needs – your gift can turn into a very valuable asset over time. 


Term life insurance is very affordable and, with many policies, can later be converted to a whole life policy. A term life policy provides protection for a young family, especially when the family does not have the financial resources to fall back on should an unexpected death occur. These policies pay the death benefit without taxation, allowing the family left behind to keep the home, pay bills, and afford all they need. Ask your insurance agent about adding a disability rider to your policy, which will provide financial resources if the individual cannot work due to illness or injury.

Builds Equity 

A whole life insurance policy becomes an asset with time. These policies are far superior to term life policies, but the premiums cost more. If you can swing it financially, invest in a whole life policy for your youngest family members. Find a policy that will never expire, pay out a death benefit no matter how long you live, and build up a hefty cash value over time. 

Peace of Mind

Young families often have a tight budget and may live paycheck to paycheck, saving little, if any, of their income. When you buy a life insurance policy for your relative, you are providing them with more than a piece of paper – you are giving them peace of mind that their lives won’t be a disaster should an unexpected illness or injury occur.

A Unique Gift

While your life insurance policy gift may be unusual, it will be deeply appreciated. Your gift shows that you care about the individual and want to make their lives as easy and positive as possible. You also don’t have to brave the crowds at the shopping mall and purchase an item that may or may not be appreciated! 

If you are considering buying life insurance as a Christmas gift, ensure you work with a local insurance agent. While many online resources claim to make it easy to buy insurance, you want to get the most out of your investment. An insurance agent can identify the best deal for you and your budget and help you find the best coverage at the lowest rates.

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