Life Insurance That Spans Three Generations

As a grandparent, you understand better than anyone the true cost of raising a child—not just the day-to-day expenses but also the big milestones like education, a first car, or a wedding. Your life experience and the special bond you share with your grandchildren may inspire you to think beyond today and help prepare for their tomorrow.

Life insurance can be a powerful way to create multi-generational financial security. Whether you’re a grandparent, parent, or even a grandchild thinking ahead, here’s how Farmers® Index Universal Life insurance may fit into your family’s long-term planning.²

From a Grandparent’s Perspective

  • Build a lasting legacy. You may want to transfer wealth efficiently and provide meaningful financial support for your heirs.
  • Flexible ownership. You can own the policy and choose your child as the insured, with your grandchild as the beneficiary.
  • Support when it matters most. Cash value accumulation can be accessed through loans¹ or partial surrenders to assist with education, medical expenses, or other needs—without impacting your ability to maintain coverage (reduced cash value and death benefit may apply).
  • Potential tax advantages. Life insurance proceeds may help loved ones financially without being penalized by inheritance taxes.³

From a Parent’s Perspective

  • Financial protection for children. Life insurance can ensure your children are protected if something happens to you.
  • Flexible funding for major goals. Cash value can generally be accessed tax-free³ for big expenses such as college tuition or a down payment on a first home.
  • College planning benefits. Farmers Index Universal Life (FIUL) policies are generally not counted when applying for federal financial aid (FAFSA), offering an advantage over some other funding vehicles.
  • Living benefits. Even while you’re alive, loans¹ or withdrawals may be used for unexpected expenses or opportunities.

From a Grandchild’s Perspective

  • A head start on financial security. Being insured early can mean long-term financial confidence as they grow older.
  • Cash value for life’s milestones. Over time, cash value accumulation could help fund future academic endeavors, a first car, or even the purchase of a home.
  • Appreciation for forward thinking. As they grow, grandchildren may come to value the protection and foresight you provided.

Planning for Your Legacy

Life insurance can be more than just protection—it can be a bridge connecting three generations of your family. By starting today, you can help ensure your loved ones are financially supported tomorrow and beyond.

To learn more about whether Farmers Index Universal Life insurance is right for your family, contact your local Farmers® agent.

¹ Loans and partial surrenders: Cash values may be accessible through policy loans or partial surrenders. Loans not repaid and partial surrenders reduce cash value and death benefit and may incur interest charges.
² Product availability: Farmers Index Universal Life may not be available in all states. Product features, restrictions, exclusions, and conditions apply.
³ Tax considerations: Distributions (partial or full surrenders or policy loans) up to basis are generally income-tax free, provided the policy does not violate Modified Endowment Contract (MEC) guidelines and the policy is not terminated during the insured’s lifetime. Farmers® companies, employees, agents, and representatives do not provide legal or tax advice. Always consult your tax or legal advisor for guidance.