Henry Financial Group

Insurance for grandkids. There’s a conversation you may need to have

On: June 1, 2016 In: Financial Advice

There is a conversation you may need to have with your son or daughter. It™s not about the birds and the bees, but it could be just as confronting.

If you have grandchildren chances are you play an active role in their life. You give emotionally and financially to help their development “ just as you did with your own children. But just think about something for a second. What degree of emotional and financial support would be required of you if something were to happen to your grandchild™s primary care givers?

  • What role would you play in the child™s life if an illness or death occurred to either parent?
  • Are there other people who would contribute or would you become a parent for the second time around?
  • What would be required of you financially to care for the child?
  • What would the impact be on your retirement plans?
  • What level of insurance do the child™s parents have in place? Is it sufficient to ensure the child is taken care of and your financial security isn™t compromised?

We pose this question to you because we see our role as helping you identify any issue which may potentially impact your retirement plan. Everyone™s situation is different and if this issue is not a concern for you, we™re pleased. But if it is, we™re here to help.

What you can do

  • Speak to your son or daughter about this important issue. See how they feel.
  • If this is something you wish to address, come and speak to us.
  • Should you wish to assist financially, speak to us about ways of helping to pay the premiums on your son or daughter™s behalf.

How we can help

  • We™ll guide you through the process.
  • We™ll sit down with you and your family to work out an appropriate level of protection.
  • We™ll find the right policy to suit your family™s circumstances.

Important information: Any information in this article is general in nature and does not take into consideration the reader™s personal circumstances. To avoid making a decision not appropriate to you, the content should not be relied upon as a substitute for receiving financial advice suitable for your circumstances.