Grandparents and Grandchildren: A Match Made in Heaven

by Candice Faith, CLU, ChFC
Assistant Vice President, Marketing

To say that grandparents and grandchildren have a special relationship would be an understatement in many cases. Today’s grandparents would like to assist in smoothing life’s path for their grandchildren. This desire is nothing new. In the past, grandparents left the family business or the family farm as a legacy. In today’s culture, the number of family farms is fading and the grandchildren are choosing options other than the family business.

How does the grandparent help? Some may consider a life insurance policy. This is an excellent source of funds for college, a down payment on a home, or, in other words, funds to provide the grandchild with a good start in life. The problem is that most young people do not have the maturity to manage a lump sum windfall. The money may go as quickly as it came.