What kind of dreams do you have for your children? Is a college education one of them? Like all dreams well conceived, your financial security will make it easier for you to help them when the time comes.
Preparing for a child or grandchild's education isn't as simple as it used to be. Today's options offer more potential, but must be chosen carefully. Depending on family income and other factors, it's important to make these decisions as early in the child's life as possible.
The best way to help meet these costs is to look at the various funding vehicles available and choose the option that best suits your family. Coverdell Education Savings Accounts, custodial accounts (UTMAs and UGMAs) and 529 plans are just some of the options available to you.
Remember the need to insure your ability to help pay your child's college expenses. Your ability to provide financial support is important. Should you die, life insurance can help replace the loss of your income and fulfill your dream for your children's future.