Give The Gift of a Solid Financial Foundation
Jennifer Stockdale • November 8, 2020
Gifts of toys, video games and sneakers may check some items off of their wish lists, but this year, why not give a gift that will last a lifetime. Take a look at two financial gift ideas that can set the children in your life up for a lifetime of success. Talk to your GBU agent today about these great gift ideas for a child you love.
Youth 3 Pay Life Insurance
If the child in your life is young and healthy, you may wonder why life insurance would be necessary. GBU's Youth 3 Pay Life insurance is permanent life insurance that can be purchased now at lower rates, but will cover the individual throughout their life. This policy also offers a Guaranteed Purchase Option rider that will ensure the ability to purchase additional coverage throughout their lives without the need for a medical exam. As they become adults, the cash value of the policy can be borrowed at a low interest rate to help with expenses such as education, a mortgage down payment or medical emergency. The child's parent or legal guardian needs to fill out the application, but funding a lifelong policy is a great way to help the child on your list to lay a solid foundation for their financial future.
Coverdell Education Savings
Higher education is certainly one of the largest expenses the child in your life will face. Establishing a Coverdell Education Savings Account can help them be able to reach their education goals after high school. Money can be added to the account over time by parents, the child and other relatives so that the account can continue to grow. Funds are available for a variety of education needs and unused funds can be rolled over to siblings or other relatives or even used for other purposes (with some tax penalties). The Coverdell Education Savings Account gives the student an established account to add savings to, such as birthday and graduation gifts as well as earnings from part-time jobs. Having funds available for higher education will set them up for future success and less lifetime debt.
As we move into the second quarter of another exciting year, I want to take a moment to reflect on our accomplishments and share some of the new initiatives we are implementing in the realms of sales, marketing and community engagement. Over the past year, GBU Life has reached significant milestones thanks to the dedication and hard work of our team and the trust and support of our members. Our sales department has exceeded targets, and we have expanded our reach to more communities than ever before. We have launched several successful marketing campaigns that have not only increased our visibility but have also strengthened our brand's presence in the industry. For this year, our focus will be educating potential new members on the importance of securing their financial futures through life insurance and annuity products while serving their communities as part of our great Society. Looking ahead, we are committed to enhancing our sales strategies to better serve you. We are introducing some tools for our agents to enhance our products. One new tool is our Defined Benefit Annuity program which combines the Future Flex Fixed Index Annuity (FIA) with a software tool that can help determine retirement savings needs and break them down into contributions over time to help you meet your retirement goals. Be sure to keep in touch with your GBU agent to review your plans and products to see how adding an FIA to your retirement planning can help boost your savings efforts
GBU members between the ages of three and nine years old can enter their colored page in this year's contest, which is themed Pawprints on My Heart. Three age categories will be judged as follows: Category I: Ages three and four Category II: Ages five and six Category III: Ages seven, eight and nine Entrants may use crayons, colored pencils, markers or watercolor paints. Entries will be accepted through Monday, August 18, 2025, at 11:59 p.m. EST. The picture on the next page can be reproduced, or copies can be obtained by calling the Community Engagement Team at the GBU Home Office (800-765-4428) or by printing the image above. Cash Prizes for Each Category First prize: $75 Second prize: $50 Third prize: $30 How to Enter Send the three- to nine-year-old GBU member's coloring contest entry with their name and address on the colored page to: GBU Life ATTN: Member Benefits 4254 Saw Mill Run Boulevard Pittsburgh, PA 15227-3394. Or email contest@gbu.org with "Coloring Contest Entry” as the subject line. General Information Judges reserve the right to accept or reject any or all entries. Their decisions will be final. Artwork will be handled at the GBU Home Office with the utmost care. GBU reserves the right to reproduce entries for whatever use it wishes, provided proper credit is given. Permission does not include the sale of such work.
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Kick-start your child’s journey to financial success with a whole life policy from GBU Life.