Life insurance for grandchildren is a meaningful gift that lasts a lifetime. It provides financial protection when the unexpected happens. With fixed premiums, it stays affordable as your grandchild grows. These policies also build cash value over time. Coverage can start as early as birth and continues for life. In this article, we’ll explain the benefits and why it’s a smart choice for families.
Why Life Insurance for Grandchildren Is a Smart Financial Move
Life insurance for grandchildren is more than just a thoughtful gift, it’s a powerful financial tool. Purchasing a whole life insurance policy early in a child’s life ensures lifelong coverage at a low, locked-in premium.
Since premiums are based on the child’s age at the time of purchase, the cost is significantly lower than if purchased later in life. This means grandparents can secure affordable life insurance for grandchildren that never increases in cost, no matter how the child’s health or circumstances change over the years.
In addition to peace of mind, life insurance for grandchildren builds cash value over time. That means the policy not only provides protection in the event of tragedy but also acts as a savings vehicle.
The cash value can be accessed later in life for important milestones like education, buying a home, or starting a business. It’s a long-term investment in a child’s future.
Ensures that cash will be there
Life is precious. Unfortunately, accidents and diseases claim the lives of children every day. Consider that:
- Accidental injuries are the leading cause of death among children in the United States*
- Cancer is the second leading cause of death among children aged 1 – 14*
Having money for final expenses provides financial protection when the unexpected happens. With United American’s Juvenile Whole Life Policy you can get help with that protection.
This appointment is meant to alleviate any concerns and there is no-cost or obligation to make a change.
Whole life policies accumulate cash value, so as the child ages the value of UA’s Juvenile Whole Life policy will also grow.
Keeps the premium affordable
Premiums for United American’s Juvenile Whole Life policy are based on age, so the cost to you will never be lower than it is now. Buy today and the affordable rate remains the same for life.
- Available for children ages 0-18
- Benefit amounts range from $1,000 to $25,000
- Terminal Illness Accelerated Benefit Rider (ABR1) is included at no additional cost. Upon satisfactory proof of a terminal illness, this rider pays 50% of current benefits available prior to death (where state approved).
The company behind the coverage
Stability – United American has been in the life and supplemental health insurance business since 1947.
Strength – For more than 40 consecutive years, United American has earned the A+ (Superior) Financial Strength
Rating from A.M. Best Company (as of 7/17).
*National Safety Council. (2017). Injury Facts®, 2017 Edition
*This article highlights the features of policy form SWL. Policy described herein is not a preneed or prearranged funeral plan. Policy has some limitations and exclusions. Refer to Your policy for actual coverage, benefit amounts, and terms. Plan, issue ages, and benefits may vary by state. Applicant must qualify for coverage amount applied for based on applicant’s age and health.
Conclusion
Life insurance for grandchildren is a meaningful way to protect their future while offering financial peace of mind for your family. With lifelong coverage, locked-in premiums, and the added benefit of growing cash value, it’s a smart investment that lasts a lifetime. Whether you’re looking to leave a legacy, safeguard against the unexpected, or provide a head start on future financial goals, a juvenile whole life policy offers lasting benefits.
Starting early ensures lower costs and greater long-term value. As a grandparent, giving the gift of life insurance is a powerful gesture of love and foresight. Speak with a trusted insurance advisor today to find the right policy that fits your needs and your grandchild’s future.
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