Assumption Life recently introduced Youth Plus. It is a term life insurance product designed for children. The policy is available to insure children between 15 days old and 17 years of age. The features on the policy include the following:
1. Term life insurance until the child has turned 25.
2. Guaranteed sum insured payable upon death.
3. Non-participating insurance (no dividend is payable).
4. Guaranteed level premiums, which means the premiums remain the same for the duration of the premium payment period.
5. Available as a stand-alone policy or a rider.
The plan comes in nine different base amount increments, starting as low as $35,000 and going to as high as $175,000.