Nov 10, 2021
In this episode, Jake and Gino talk about the significance of teaching financial intelligence to kids. Gino shares his personal story on how he was introduced to the whole life insurance concept as a savings tool to secure his financial future for both himself and his family. Jake and Gino map out a parent’s guide to teaching kids about finances early on, and how parents can use whole life insurance to help children protect and secure their own financial futures.
Why Buy Whole Life for Your Children:
➡️ Whole life insurance policies will provide coverage for your child’s whole life, as long as the premiums are paid.
➡️ The cost of life insurance depends largely on age and health, thus purchasing a policy when your children are young locks in a lower premium that does not change, even if your child’s health changes as they grow.
➡️ The earlier you start, the sooner the policy begins to build cash value. This cash value can be borrowed to finance medical expenses, cars, college, or even a wedding.
➡️ You can't buy term life policies for children, as they would only provide coverage for a certain number of years.
For more on Whole Life vs Term Life, check out this episode of our podcast: https://youtu.be/chnxJX_38DA
Gino's better-half, Julia Barbaro, recently released her book "The Cannolis Exploded! Now What?: A Story About Three Different Paths You Can Take In Life". The book teaches children essential personal finance concepts in a fun way. Grab it now for your kids on Amazon: https://amz.run/52ML
Key insights from the podcast:
00:00 Introduction.
00:24 Gino's personal story.
01:30 How Gino got introduced to the Whole Life Insurance concept.
02:20 The top ways to put your savings to good use.
03:20 Encouraging children to develop financial intelligence.
06:24 Julia Barbaro's new book on financial education for children.
Purchasing a whole life insurance policy for your child creates generational wealth, and can be one of your greatest gifts to them. Our Team can answer any questions and is help you find the right policy for you and your children. Schedule a call to get started today: https://100yearrei.com/callnow/