Can I open An IUL For My Child?

Shawn Plummer

CEO, The Annuity Expert

Can I Open An IUL For My Child?

Yes, you can open an Index Universal Life Insurance (IUL) policy for your child. It’s common for insurance companies to offer IULs for children. These policies typically provide both life insurance coverage and a cash value component that can grow based on the performance of a selected index, such as the S&P 500.

The benefits of opening an IUL for a child include:

  1. Financial Security: Provides a death benefit and a financial safety net.
  2. Cash Value Growth: Potential for tax-deferred growth of cash value over time.
  3. Flexibility: Options to adjust coverage and premiums.
  4. Future Insurability: Secures the ability to have life insurance in the future, regardless of health changes.

Discover affordable peace of mind for your child with a quick life insurance quote.

Key Considerations for IULs for Children

  • Eligibility and Premiums: Age and health may impact the premiums and policy terms.
  • Investment Risks: Linked to market indexes, thus subject to market risks.
  • Costs and Fees: Includes insurance costs, administrative fees, and possibly others.
  • Long-Term Commitment: Designed for long-term financial planning.


Opening an IUL for your child can be a strategic step in long-term financial planning, offering both life insurance protection and the potential for cash value growth. However, it’s important to understand the costs, risks, and features of the policy.

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Shawn Plummer

CEO, The Annuity Expert

Shawn Plummer is a licensed financial professional, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

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