Buying life insurance for your grandchild is simple, and you won’t need consent from their parents.

In this article, you’ll learn how the policies work, see actual quotes, the best companies, how to buy a policy online, and much more.

How Does Life Insurance For Grandchildren Work?

A grandchild’s life insurance plan will always be a whole life insurance policy. It’s a form of permanent coverage with a behind-the-scenes savings account called “cash value,” which continually grows.

Plans for grandchildren seldom require an exam, rates will never increase, and coverage never expires. Also, grandparents can purchase a policy without the consent of the children’s mother or father.

It’s important to note that there is no term life insurance available for children under 18. Whole life insurance for grandchildren is the only option.

To say whole life insurance is simple to understand would be an understatement. If you buy a whole life insurance policy for a grandchild, here’s how it will work:

  • Guaranteed lifetime coverage that will not expire at any age
  • Rates are guaranteed never to increase
  • Coverage is guaranteed never to decrease
  • Cash value continually builds over time that you can withdraw for personal use.

As you can see, we were serious when we said they were easy to comprehend.

One other way to buy life insurance for your grandchildren would be to add them on as a term rider to your policy.

However, it’s important to note that adding a grandchild as a rider to your policy does not mean they have a policy. They are simply an addon to a policy for you.

If your policy should ever not be active, so too is their rider coverage.

Also, grandchildren term riders typically expire once the covered child reaches the age of 18-25.

If you want life insurance for your grandchildren, always seek a standalone policy. Don’t opt to insure them via a rider on someone else’s policy.


How Much Does Grandchild Life Insurance Cost?



The Best Life Insurance Companies For Grandchildren

After looking at the companies that offer life coverage to kids and grandkids, we narrowed it down to three companies total.

While there are other carriers other than these three, we believe these life insurance companies offer the best overall value.

You can rest assured that the best life insurance for grandchildren is with one of these three companies.


1) Mutual of Omaha

  • Policy type: whole life
  • Builds cash value: yes
  • Fixed premiums: yes
  • Coverage expiration date: never
  • Brochure: click here
  • Age availability: 0 -17
  • State availability: All states (plus DC) except NY & WA
  • Coverage range: $5,000-$50,000
  • Unisex rates: yes
  • Included Riders At no Additional Cost: Guaranteed Insurability & Waiver of Premium due to Death of Owner

Mutual of Omaha is an extremely financially sound company that can and will pay its claims when the time comes.

Their whole life insurance for grandchildren is our number one pick for a few reasons. First, the price is about the lowest you will find, and their online application process is very simple. In addition, they have high coverage options and valuable add-ons at no extra cost.

For example, if the policy owner dies, they will allow for a 90-day grace period. That allows ample time for someone else to take over the policy so it doesn’t lapse.

Also, they guarantee the insured children can buy more coverage multiple times later in life without answering any health or lifestyle questions.

If you want to explore United of Omaha’s children’s life insurance, use the quoting tool on this page. You’ll see instant rates, and you can fully apply online in less than 2 minutes.


2) Gerber Life

  • Policy type: whole life
  • Builds cash value: yes
  • Fixed premiums: yes
  • Coverage expiration date: never
  • Brochure: click here
  • Age availability: 0 – 14
  • State availability: All 50 states (plus DC)
  • Coverage range: $10,000-$50,000
  • Unisex rates: yes (except for CA & FL)
  • Included riders at no additional cost: Guaranteed Insurability

Most people are familiar with the Grow Up plan (they advertise it a lot) by Gerber Life. Gerber Life is a financially strong company with a long history of paying its claims.

Their cash value life insurance for grandchildren policy is unique because they double the coverage once they turn 18. Even better, when that insurance doubles, the premiums remain the same!

Overall their coverage is affordable and easy to acquire with their online application process.

The only downside to their coverage is the cost. Mutual of Omaha and Globe are less and expensive.


3) Globe Life

  • Policy type: whole life
  • Builds cash value: yes
  • Fixed premiums: yes
  • Coverage expiration date: never
  • Brochure: N/A
  • Age availability: 0-24
  • State availability: All 50 states (plus DC)
  • Coverage range: $5,000-$30,000
  • Unisex rates: Yes
  • Included riders at no additional cost: none

Globe Life is the final company to make our list. They have an easy online application process and low rates.

A unique aspect of Globe Life’s children’s insurance is that they accept kids as old as 24. That is unheard of as all other carriers have a max issue age of 17 for children coverage.

Overall, Mutual of Omaha is a clear-cut superior choice. However, Globe Life Insurance for grandchildren or children isn’t a bad option by any means.


How Much Protection Can You Buy On A Grandson or Granddaughter?

It really depends on the carrier. Most companies will allow you to buy between $5,000-$50,000 in life insurance on grandkids.

The coverage options are similar when buying a life insurance policy on grandparents.

If you want to get more than just $50,000, remember that you can always buy multiple policies from multiple companies. No law or rule says you can’t.


Will They Qualify?

Almost every life insurance company will not require your grandchildren to undergo an exam, nor will they request their medical records.

Similar to burial insurance plans, their qualification is based on the answers to a few health questions.

For the most part, any child will qualify so long as they were not born with any chronic illness, disease, or disorder.

If you have a grandchild born with a condition, you can still apply to see if it’s approved. The worst the insurance company will say is no.

That said, here’s a list of common conditions children deal with that will 100% result in decline:

  • Mental retardation
  • Diabetes
  • Sickle cell anemia (sickle trait is okay)
  • Spina Bifida

Again, there are other conditions other than what’s listed there. Those are just some of the most common ones.


Who Is Allowed To Buy A Policy On A Grandchild?

As grandparents, you have the right to secure coverage for your grandkids. The simple fact that you’re their grandmother or grandfather enables you to.

Also, bear in mind that you don’t need the consent of the child’s parents either. Grandparents buying life insurance for grandchildren can be done 100% without any child’s parents’ involvement.

That said, life insurance companies won’t grant just anyone the ability to buy coverage on a child.

You must be related to the child in one of the following ways:

  • Grandparent
  • Great grandparent
  • Parent
  • Stepparent
  • Legal guardian

If you are not related to a child in one of those ways, you cannot buy coverage on them.


Should You Buy Life Coverage On Your Grandkids?

The truth is, it’s simply a matter of personal preference regarding if you should purchase life insurance on a grandchild of yours.

Some experts say yes, you should, and some say no, you shouldn’t.

In the end, you have to choose if you think it’s worth it or not.

That said, there are three main reasons why you should consider coverage of your grandkids.


#1 Funeral expenses

We pray this is never your reality, but this is easily the biggest reason to buy life insurance on anyone, let alone your grandkids.

Albeit rare, child deaths do happen, and funerals aren’t cheap. The typical funeral costs nearly $10,000 in most states.

A life policy will ensure their unexpected death doesn’t create a significant financial hardship.


#2 Guaranteed option to buy coverage later in life

Many child life insurance policies guarantee that the children can purchase more coverage later in life. They cannot be denied this additional coverage.

That is great because if they develop some health issues later in life, they can still acquire more coverage.

Most companies allow the insured kids to buy more coverage at multiple intervals in life too.


#3 Savings for future use

Since all grandchildren’s life insurance plans are whole life, they all build cash value.

Cash value is like a hidden savings account that forever grows. Every time you make a payment, a small portion goes into the cash value account.

Also, the account earns interest which also causes it to grow. You are entitled to access the cash value anytime later in life for whatever purpose you desire.

You or your grandchildren could use the money to help with college or a down payment on a home or anything else.


How You Can Buy Life Insurance For Grandkids In Minutes

Whether you’re looking at Globe, Mutual of Omaha, or Gerber, you can fully apply with all of these companies 100% online.

You won’t need to worry about an exam because exams are never required.

Here’s all the information you’ll need to complete an application for whole life insurance for grandchildren:

The insured children:

  • Date of birth
  • Gender
  • Full name
  • Answers to a few health questions

The policy owner (which would be you- the grandparent)

  • Relationship to the children who are insured
  • Full name
  • Gender
  • Address
  • SSN
  • DOB
  • Phone number
  • Beneficiary names (if someone other than you)
  • Payment information

After you submit all the information and E-Sign (done by clicking a button), underwriting will process the application within a few days and mail you a policy if the kids are approved.

If applying online is not suitable for you, it is still possible to apply via paper. For example, both Gerber Life and Globe allow people to fill out and send back in a paper application.

While this process takes much longer and is prone to errors that may result in an application rejection, it can still do it that way.


Frequently Asked Questions

Below you’ll see a list of the most common questions we’re asked regarding grandparents buying life insurance for grandchildren.

If you have a question, hopefully, it appears below. If not, you can email us at info @, and we’ll post the question and answer on this page within 48 hours.

Yes! As a grandparent, your relationship grants you the privilege to buy life insurance for your grandchildren with or without the child’s parents’ knowledge or consent.

Yes, you can. No rule or law says you can’t buy life insurance for grandkids from multiple companies.

No. The only type of policy available for grandchildren is whole life insurance.

Now, you can add your grandchildren as a term rider to your policy. However, that does mean your grandkids have a life insurance policy. They would be an add-on to your policy.

Yes. Actually, the only type of coverage available is whole life which always has cash value no matter which insurance company issues the policy.

Generally speaking, Mutual of Omaha offers the best whole life insurance for grandkids. It’s low cost, has excellent added benefits, an easy application process, and coverage options.