Setting Up Your Kids for the Rest of Their Life
You’ve achieved success in your life, and now you want to build a legacy by setting up your child for a future where they have the resources to reach life’s milestones with confidence. With the *Million Dollar Baby* plan, you can ensure they’re ready to face the future with more than just financial security – they’ll also have access to lifelong insurance coverage.
What is the Million Dollar Baby Plan?
The *Million Dollar Baby* plan uses a whole life insurance policy as a long-term asset for your child, growing in value over the years. Through regular contributions, you’re building a financial foundation that will be available to them as they encounter key life stages – whether it’s education, buying a home, or retirement. Plus, this plan includes built-in insurance coverage at the most affordable rate, providing permanent security that starts from their youngest age.
How Can the Million Dollar Baby Plan Support Your Child?
From the outset, you can designate how you’d like the funds to support your child at different milestones, including:
Teenage Needs and Experiences
As they grow, you may also want to cover certain teenage expenses that make a difference. Whether it’s for orthodontics like braces or unique life experiences such as a senior class trip, this plan allows you to support them without tapping into your regular savings.
Education Expenses
By the time they reach university age, funds can be available to offset tuition and other academic costs.
Home Ownership
As your child steps into adulthood, they’ll have access to funds for a down payment on their first home.
Retirement
Unlike traditional education savings plans that can run dry, the *Million Dollar Baby* plan continues to grow, setting your child up with retirement savings.
With permanent insurance coverage built into the plan, your child also gains lifelong security at the lowest cost, even if they never make another premium payment.
How Does It Compare to Other Long-Term Legacy Plans?
Compared to education savings accounts or traditional savings, the *Million Dollar Baby* plan provides a unique advantage. While an education savings plan will deplete its funds as they’re used for school, the *Million Dollar Baby* plan continues to grow. Even after paying for milestones like education, the funds can replenish over time, creating a lasting financial foundation.
How Early Should Parents Contribute?
The earlier, the better. This plan is available to children as young as two weeks old, meaning you can start taking advantage of compounding growth almost from birth. The earlier you start, the more you can leverage these advantages.
How Much Are the Monthly Payments?
You can tailor contributions to fit your budget, with a suggested minimum of $100 per month. For optimal growth, contributions of $200–$250 monthly are recommended, especially if your child is a bit older.
Why Haven’t I Heard of the Million Dollar Baby Plan Before?
While the strategy of using whole life insurance to build wealth for children isn’t new, it’s rarely promoted outside specialized financial circles. Banks and most financial institutions don’t offer this kind of asset-building program, which makes it unique to families who have financial advisors knowledgeable in long-term wealth planning.
The *Million Dollar Baby* plan is an intuitive, proven way to create a lasting legacy and ensure your child is set for life. If you’re interested in learning how this can work for you and your family, contact us today!
Call For More Information
240-462-8000
E-mail For More Information
support@legacybiz.solutions