As more families navigate the realities of aging into care, many grandparents are looking for meaningful ways to support the next generation – not just in the present, but for years to come.
One option quietly gaining attention is juvenile life insurance. Available from birth – with just a social security number – this form of whole life insurance provides coverage for life, while building cash value over time. For many grandparents, it’s become a way to leave a lasting legacy – a financial foundation that grows alongside their grandchild.
In Fall City, Washington, Farmers Insurance agent Kevin Hauglie has noticed this growing interest. “It’s not just about insurance,” he explains. “It’s about giving your family a small head start that can make a real difference down the road.”
Kevin’s parents, Herb and Helen Hauglie, were also Farmers agents from 1962 to 1998. Pictured here with Kevin’s daughter — their granddaughter — Angela Donaldson, who is continuing the family legacy and now works alongside her father. Photo courtesy of Kevin Hauglie Insurance.
Juvenile life insurance policies offer several long-term benefits. The earlier the policy is purchased – ideally before age 16 – the more time it has to accumulate value. That means premiums stay low, and the compounding interest begins working sooner. Over the years, that value can be borrowed against to help with education, a down payment or unexpected expenses.
These policies also include a feature many families find reassuring – guaranteed insurability. This means that as the child grows up, they’ll have the option to purchase more coverage – even if their health changes later in life.
In Washington State, parents or grandparents can purchase and own the policy – transferring ownership to the child once they reach adulthood. It’s a simple gesture that can have a lasting impact.
For grandparents already thinking about the future – especially those adjusting to their own retirement or care needs – juvenile life insurance offers a quiet reassurance. It’s not flashy. But it is steady, thoughtful and enduring.
To learn more about how these policies work, or to explore whether it might be a fit for your family, connect with the team at the Kevin Hauglie Agency at 425-222-5881 or visit agents.farmers.com.
