The Gifts That Last a Lifetime

We all know how it goes – kids get too many toys. They either quickly lose interest, or the toy breaks, or you have to declutter it to make room for more stuff. Whether you are buying for your children or grandchildren, you are probably looking for alternatives.

Experience gifts are a great option, but what about something longer lasting? What about something that gives both of you peace of mind, and protects them, their future spouse and children, even after you’re gone?

If this appeals to you, here are a few insurance gifts to consider:

Child Critical Illness Insurance (my favourite!)
It’s amazing value for your money. I explain it in more detail in this post.

Whole Life Insurance 
I know there is a lot of talk about how term insurance is the way to go, and I agree that in some situations having only term life insurance is fine.

However, when you are helping a young person get started in life, you just have no idea what will happen to them in the future. What kind of job will they get? Will they get married? Have kids? Will they have a medical problem and become uninsurable? 

That’s why I recommend getting a permanent insurance product in place as soon as you can. You can always chose to cancel later if that makes logical sense. But you can’t reverse time and easily get insurance for a good price after they have been diagnosed with a medical condition.

Plus a whole life policy has a cash value component. The recipient can borrow against this amount to help pay for school or start a business.

As a gift purchase, I recommend the option of picking a 20-pay policy. This means that you pay for 20 years only, and then the coverage continues for the child’s entire life.

If you can afford about $1 a day you may be able to get about $60,000 worth of life insurance. And you’ll only contribute about $8,000. It’s pretty amazing.


Are these options too expensive? You’re not ready to commit to 20 years of payments? Or you are gifting to a teenager or young adult?

What about a travel insurance policy?
Young people love to travel but often think they are invincible. Protect their future by paying for their travel insurance. For as little as $126 you can buy your 18 year old a worldwide annual policy.

I hope I have given you some new gift ideas. These are just a few of the many options to use your money and wisdom to protect the children and youth in your life. Do you want to discuss all the possibilities? Let’s talk!


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