Originally Posted by Longbob
Originally Posted by 8SNAKE
What's a whole-life insurance policy run on a newborn these days? I'd be looking in that direction, based on what you've said.


Why insure the kid? Whole life builds up a modicum of cash value (variable universal life would be better), but the portion of the premium that is allocated to the insurance policy is just wasted as far as savings is concerned.

The fact that you may borrow against the policy tax free is pointless since so much of the earnings would end up being tax free due to the kiddie tax rules for quite a while.


My parents did it for me when I was very young and I am pleased with the annual statements that come in the mail. The annual cash value pays the premiums and builds value each year.