insurance and financial planning to help children
  • By Allan M Block Blogging Team
  • Posted July 15, 2018

Give Your Children An Advantage With Insurance And Planning

There are several ways you can build capital to help your children when they enter adulthood.

College Savings Plans > 529 Plans allow you to make tax-advantaged deposits that earn returns and can be used to pay college tuition at a later date.

Whole Life Insurance > It is never too early to provide a basic guarantee for your child's future life insurance. Health issues discovered later in life could make the cost of insurance prohibitive, but a whole life insurance policy purchased at birth or in childhood will remain in force and build value for your child's entire lifetime.

Stock Funds > Since stocks perform well over long periods of time, buying into a stock fund for a child — even a teenager — can yield plentiful assets when they reach their later years.

for retirement income.

Roth IRA > An individual retirement account can be set up for any minor as long as he has earned income. Deposits into a Roth IRA are not tax deductible, but the money withdrawn from that account in retirement (at the allowable age) will not be taxed. It is a great way for teens and college students to learn smart financial planning and discipline.

For more information or answers to your insurance questions, contact us at Allan Block Insurance Agency,, located in Tarrytown, NY in the heart of Westchester County, a key business district near New York City.  We write auto, home, renters, condo, co-op, personal, business, life and group insurance for clients locally and in NYC, CT, NJ, PA, MA and many other states. The Professional Agency with the Personal Touch.