Potential Magazine Summer 2016 | Page 32

life skills life insurance Which one of your family members might be uninsurable in 10 years? According to research from the American Council of Life Insurers, only about 15 percent of people under the age of 18 have a life insurance policy. INSURING YOUR TEEN’S FUTURE To ensure that your child will be able to get coverage for themselves later in life, the best thing you can do is purchase a policy for them right now. JASON MCLEOD FROM ALFA INSURANCE EXPLAINS: “Buying life insurance for your children is to help plan for their future. Most people don’t realize that you pay for life insurance with your money but you buy it with your health. What this means is that a person’s health will ultimately decide whether or not they are eligible for life insurance and in most cases we are never as healthy as we are when we are young. This is all the more reason to consider buying life insurance sooner rather than later, becaus H[