It's easy for people to take their ability to earn a living for granted. When there are people depending upon you, a suspension of that income can affect lifestyle choices.

Remember the need to insure your ability to help pay your child's college expenses. Your ability to provide financial support is important.

• Life Insurance
  Purchasing a permanent life insurance policy on yourself when your child is young can be a smart financial move. In the event of your death, there will be funds available for your child's education. In addition, the cash value in a life insurance policy is not considered an asset when applying for Federal Financial Aid.
  
  Life insurance is also the only method of education funding that is self-completing in the event of death, since proceeds would be available to fund your child's education, as long as you pay the necessary premiums. By including the purchase of the Waiver of Premium Benefit* in your policy, your premiums are waived in the event of a total disability so your cash value can continue to grow for education funding purposes.
  
  A permanent life insurance policy on the life of your child gives them two unique advantages. First, the policy can grow to have cash value by the time your child is ready to start college. Secondly, you can guarantee their insurability for years to come by adding the Additional Purchase Benefit.*



• Disability Income Insurance
  Becoming disabled could put a tremendous financial constraint on you and your loved ones. Without adequate income to help meet your monthly living expenses and allow you to save for your future plans, your child's dream of college could end up just that—a dream. That's why good intentions are not enough. Action is necessary.
  
  A disability income policy may help you guard against the income loss that may result from a disabling illness or injury. Disability income policies frequently offer optional benefits such as an Additional Purchase Benefit, guaranteeing the purchase of additional disability insurance; Future Increase Benefit, protecting against inflation; Deferred Disability Benefit, continuing retirement funding during disability; and Social Insurance Substitute Benefit, supplementing Social Security if you do not receive the Maximum Family Benefit or if no benefits are payable under a State Disability Insurance Program.*