As a caring parent or grandparent, you want to give the children in your life every advantage possible. The Grow-Up® Plan is a simple and budget-minded way to get them started on the right path.
It is whole life insurance protection that builds cash value to help your child or grandchild prepare for the future. It has child-size premiums that never increase. You are the policy owner until the child reaches age 21, at which time the child becomes the policy owner.
At age 18, the Grow-Up® Plan policy amount doubles automatically. For example, a $10,000 policy doubles to $20,000, a $15,000 policy doubles to $30,000 and so on–with no increase in your monthly premium. That’s right, double the coverage at the same low premium–guaranteed!
Regardless of health, occupation or anything else, your child or grandchild has the guaranteed right to purchase extra insurance as an adult–continuing the valuable legacy of financial protection you started.
As an adult policy owner, your child will have up to four opportunities to buy additional insurance at ages 21, 25, 30, 35, 40, when he or she gets married or has a child. Each new policy can be up to the coverage amount in force at age 18. For example, a child with $50,000 of initial coverage will automatically receive double the coverage at age 18 and, by exercising the guaranteed options, will be able to purchase up to $400,000 of additional coverage as an adult.