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  1. Home
  2. About Life
  3. Why Life Insurance
  4. Buying Life Insurance for Grandchildren

Buying Life Insurance for Grandchildren

Buying life insurance for grandchildren is just one way grandparents can help support a child’s financial future.

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Having grandchildren for the first time is a thrilling time. You get to spoil and fawn over a new baby, but still sleep through the night. You get to have much of the fun and excitement without the tremendous life changes that come with having your first child.

As any good Grandma or Grandpa knows, though, being a parent and a grandparent isn't just candy, toys and cooing. Here's some helpful advice for first timers to help you (and your kids) be financially smart and prepare for your financial future and that of your first grandchild.

Update your will.

With a new life to protect and support, you may want to review your will to ensure that the newest addition to your family is part of your plan. Whether it's creating an inheritance or leaving behind a small token to remember you by, it's a logical time to re-evaluate something you probably haven't looked at in some time.

Consider a juvenile life insurance policy.

If you're interested in creating a nest egg for your little one, buying life insurance for your grandchildren can help you do just that, specifically a juvenile life insurance policy. These whole life insurance policies build cash value as your grandchildren grow. You'll act as policyholder until they reach the age of 21 at which time they'll become the policyholder. You can turn this policy in at any time to receive its full cash value, but your grandchildren also have the option to continue it past the age of 21. The premiums will never change in their lifetime and the cash value will continue to grow.

Buy life insurance for yourself & remind your kids to do it too.

Given that the death benefit of a life insurance policy can help pay off a mortgage, cover death expenses and even help pay for a child's college tuition, you may agree that owning a life insurance policy as a new parent is crucial in helping to protect a young family. It's important to remind your kids how important that financial protection can be to their peace of mind.

In that same vein, owning a policy as a new grandparent is still a helpful way to financially protect your family. Even though you may own your house outright and have few other debts, a life insurance policy can still help pay for your funeral expenses or even provide a small inheritance to your grandchildren for their college tuition. Most of all, if your spouse or you assist in the daily supervision of your grandchildren, a life insurance policy can help ensure that they won't fall on hard times if that assistance is suddenly missing.

Of course, you should still focus on all the fun and milestones of your first grandchild, but, as with most life changes, a few good housekeeping tips can help you significantly in the long run.

If you're considering buying life insurance for grandchildren or for yourself, feel free to contact one of our agents or request a free quote online to start the process.

And if we haven't said it already, congratulations!

Help protect your family with Life Insurance!

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Product Form Numbers

Product base plans, provisions, features and riders may not be available in all states and may vary by state

Whole Life

Product Form #'s State Applicability
GIWL

Policy Forms: ICC21-20532 Rev0621, 20532, 20532-5 and 20532-10 Rev0621.

Rider Numbers: ICC23-23200, ICC15-15200, 15200, 15200-35, 13600-5, 15200-10, ICC23-23201, ICC15-15201, 15201, 15201-5, 15201-10 and 15201-35.

All States

American Elite Whole Life 2
(Conversion product only)

Policy Forms: ICC17-17917, 17917, ICC17-17917N, 17917N.

Rider Numbers: ICC23-23601, 13601, ICC23-23601N-B, 13601N-B, 1CC14-14001,14001, ICC17-14001N-B, 14001N-B, ICC22-22995, 22995, ICC23-23995N-B, 23995N-B, ICC14-14012, 14012.

All States, except NY

Single Premium Whole Life
(Conversion product only)

Policy Forms: ICC17-17918,17918, ICC17-17918, 17918.

Policy Forms: ICC17-17918N, 17918N Rev032.

All States, except NY

NY only

American Elite 2
(Conversion product only)

Policy Forms: 17917N-33 Rev0121.

Rider Numbers: 13601N, 14001N, 23995N-B.

NY only

NY only

Term

Product Form #'s State Applicability
SAT

Policy Forms: ICC21-19311 Rev0321, 19311, ICC21-19310 Rev0321, 19310, 19310N-33 Rev0321.

Policy Forms: 19311N-33 Rev0321.

Rider Numbers: ICC14-14012, 14012, ICC23-23601, 13601, 13601N, ICC14-14001, 14001, ICC22-22995, 22995.

Rider Numbers: 14012N, 14001N, 22995N.

All States, except NY

NY only

All States, except NY

NY only

Fixed UL

Product Form #'s State Applicability
Secure Lifetime GUL 3

Policy Forms: ICC15-15442, 15442.

Policy Forms: 15442N Rev0518.

Rider Numbers: ICC23-23600, 15600, 13600-5, ICC18-18012, 18012, ICC22-22995, 22995, 15972, 15972N, ICC14-14002, 14002, ICC23-23601, 13601, ICC15-15990, 15990.

Rider Numbers: 17600N, 18012N, 22995N, 14002N, 13601N, 15990N.

All States, except NY

NY only

All States, except NY

NY only

IUL

Product Form #'s State Applicability
Max Accumulator+ II

Policy Forms: 19646N Rev0120.

Rider Numbers: 17600N, 18012N, 22995N, 13601N, 07620N, 14002N, 15996N, 18004N.

NY only

Max Accumulator+ III

Policy Forms: ICC22-22191, 22191,23191-5.

Rider Numbers: ICC23-23600, 15600, 13600-5, ICC18-18012, 18012, ICC22-22995, 22995, 14306, ICC23-23601, 13601, 07620, ICC14-14002, 14002, 15996, 15997, ICC15-15994, 15994, ICCC18-18004, 18004.

All States

Value+ Protector III

Policy Forms: ICC16-16760, 16760.

Policy Forms: 16760N Rev0618.

Rider Numbers: 17600N, 18012N, 22995N, 13601N, 07620N, 14002N, 15992N, 18004N, 15990N.

Rider Numbers: ICC23-23600, 15600, 13600-5, ICC18-18012, 18012, ICC22-22995, 22995, ICC23-23601, 13601, 07620, ICC14-14002, 14002, ICC15-15992, 15992, 15997, ICC18-18004, 18004, ICC15-15990, 15990.

All States, except NY and VT

NY only

NY only

All States, except NY and VT

Protection Extend IUL
(Conversion product only)

Policy Forms: 19471, ICC19-19471.

Policy Forms: 19471N.

Rider Numbers: 16110N, 15990N, 18012N, 22995N, 13601N, 14002N.

Rider Numbers: 16110, ICC16-16110, 15990, ICC15-15990, 15997, 18012, ICC18-18012, ICC22-22995, 22995, ICC23-23601, 13601, 14002, ICC14-14002.

All States, except NY and VT

NY only

NY only

All States, except NY and VT

QoL Term

Product Form #'s State Applicability
QoL FlexTerm

Policy Forms: ICC21-19311 Rev0321, 19311, ICC21-19310 Rev0321, and 19310.

Rider Numbers: ICC14-14012, 14012, ICC14-14001, 14001, ICC23-23602, 15602, ICC23-23603,15603, ICC23-23604, 15604, AGLA 04CHIR-CA (0514), AGLA 04CRIR, AGLA 04TIR, ICC22-22995, 22995.

All States

QoL Fixed UL

Product Form #'s State Applicability
QoL Guaranteed Plus GUL II

Policy Forms: ICC15-15442 and 15442.

Rider Numbers: ICC23-23600, 15600, ICC18-18012, 18012, ICC22-22995, 22995,15972, WMDR, ICC14-14002, 14002, ICC23-23602, 15602, ICC23-23603,15603, ICC23-23604, AGLA 04CHIR, AGLA-04CRIR, AGLA 04TIR, 15604, ICC15-15990, and 15990.

All States

QoL IUL

Product Form #'s State Applicability
QoL Max Accumulator+ III

Policy Forms: ICC22-22191 and 22191.

Rider Numbers: ICC23-23600, 15600, 13600-5, ICC18-18012, 18012, ICC22-22995, 22995, 14306, 07620, ICC14-14002, 14002, 15996, 15997, ICC15-15994, 15994, ICC18-18004, 18004, ICC23-23602, 15602, ICC23-23603,15603, ICC23-23604, 15604, AGLA 04CHIR-CA (0514), AGLA 04CRIR, AGLA 04TIR.

All States, except NY and VT

QoL Value+ Protector III

Policy Forms: ICC16-16760 and 16760.

Rider Numbers: ICC23-23600, 15600, 13600-5, ICC18-18012, 18012, ICC22-22995, 22995, 07620, ICC14-14002, 14002, ICC15-15992, 15992, 15997, ICC18-18004, 18004, ICC15-15990, 15990, ICC23-23602, 15602, ICC23-23603,15603, ICC23-23604, 15604, AGLA 04CHIR-CA (0514), AGLA 04CRIR, AGLA 04TIR.

All States, except NY and VT

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© 2025 Corebridge Direct Insurance Services, Inc. Agency services provided by Corebridge Direct Insurance Services, Inc. (“Corebridge Direct”), CA license # 0B57619 and AR license # 0100105378, a subsidiary of American General Life Insurance Company (“AGL”), Houston, TX and an affiliate of The United States Life Insurance Company in the City of New York (“US Life”). All companies above are wholly-owned subsidiaries of Corebridge Financial, Inc. AGL does not solicit, issue, or deliver policies or contracts in the State of New York. Corebridge Direct offers policies on behalf of affiliated and unaffiliated insurance companies. Guarantees are backed by the claims-paying ability of the issuing insurance company. Products may not be available in all states and product features may vary by state. All prices quoted are non-binding, and the ultimate premium amount for any policy is determined by the underwriting insurance company following application. For all companies mentioned, their financial professionals and other representatives are not authorized to give legal, tax, or accounting advice. For advice concerning your individual circumstances, consult the appropriate professional.
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