Every parent remembers their child's first steps. You were excited and anxiously held your breathe as they took those tentative steps. Flash forward several years to sitting in the passenger seat as your child slowly pulls out of the driveway on their first driving lesson. Similar emotions return with added concern for their safety.
When your child gets their drivers license the need for life insurance protection increases. This is an exciting rite of passage for a young person representing newfound freedom and a part of ‘growing up’. For parents, however, it can be a time of anxiety and concern when their child takes on this new responsibility knowing of the potential dangers of auto accidents.
AFR Life has created a new Young Driver Protection Plan with young drivers and their parents in mind. This new plan provides a 10-year level term life insurance coverage now and is also convertible to a whole life plan for extended coverage in the future. This ensures continued coverage even if they become uninsurable for some reason.
The policy provides $25,000 of basic life insurance coverage plus an additional accidental death benefit of $10,000 included at no extra cost. Individuals between at 15 and 25 are eligible for this coverage. Thanks to a simplified “Jet Issue”’ underwriting, consisting of 6 simple questions, it is a very easy process to apply for this coverage.
The premium for this policy is also very attractive at $12 per month regardless of age, gender or tobacco use. A monthly bank draft is set up for premium payment.
This plan is a perfect companion to auto insurance coverage for the young driver, though no other policy purchase is required to apply for and own the Young Driver Protection Plan.
Interested in learning more information about the Young Driver Protection Plan? Fill out this form and our AFR Life Team will contact you with in one business day.