Marvin Feldman, president and CEO of the nonprofit Life and Health Insurance Foundation for Education (LIFE) in Arlington, Va., notes that while using a permanent life policy's cash value can be a great gift to children, parents should avoid putting themselves in financial jeopardy."The first thing they need to do is consider their own financial situation," he says. Consider whether you might need that cash value yourself.
How To Use Your Insurance To Help Your Adult Children
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