Grandparent? Looking for that Perfect Gift? Look no Further

Raising a Family

Being a grandparent is a wonderful thing…you get to enjoy the kids without the parental responsibility. What freedom…Your focus is now on spending quality time with your expanding family, building bonds and making memories that last a lifetime. I think one of the most stressful aspects of being a grandparent is figuring out what to give the grandkids. It’s easy when they are really little, toys are always a big hit, but they don’t last forever and eventually the kids outgrow them. As they get older, it becomes more important to find something that will last and have some sentimental meaning. Here’s a novel idea and one that they will appreciate as they get older. It carriers the opportunity to provide some funds for college, funds for the first house, funds for the new baby or just overall financial security.

Are you ready? The perfect gift is the purchase of a whole life insurance policy on the life of your grandchild. You can make that purchase at any time once a child is born with parental approval. You pay the premiums as your gift to them and watch the cash value grow. Somewhere down the line, they can borrow against that cash value and put it to good use. The interest rates are generally more favorable than commercial rates and as they repay the loan, they are paying themselves back rather than a third party. Some whole life policies may pay yearly dividends which can be taken in the form of cash or left to accumulate, providing additional options for your grandchild. The added benefit of making a life insurance policy purchase is obvious; your grandchild will have some life insurance to protect their loved ones in the future.

About the author:  Michele Cleary has been in the business for over 35 years and holds a CLTC designation. She believes that life insurance can give you and your family peace of mind, especially when you have other things to worry about. Michele now has 4 grown children and knows that proper planning is essential. You can reach her at 1-800-651-1953 or MCleary@Pivot.com.