Across Johnson County, plenty of grandparents have stepped into a second round of parenting, handling school drop-offs at Center Grove, homework at the kitchen table, and weekend ballgames around town. When a grandparent becomes the primary caregiver, life insurance takes on a new job. The question shifts from leaving something behind to making sure a child’s daily life keeps going.<\/p>\n
Buying a policy in your sixties or seventies is still very possible, but the menu changes. Some term lengths may no longer be offered past certain ages, and health questions carry more weight. Simplified issue and guaranteed issue policies skip some or all of the medical underwriting, though guaranteed issue plans often pay a limited benefit during the first two or three years. An agent can help compare what fits your health and the years until the grandchildren are grown.<\/p>\n
It feels natural to name a grandchild directly. In Indiana, though, a minor generally can’t take control of life insurance proceeds, and a court may need to appoint a guardian to manage the money until the child turns 18. That process takes time and paperwork at the worst possible moment.<\/p>\n
Indiana’s Uniform Transfers to Minors Act offers a simpler path. You can name an adult custodian right on the beneficiary form, using wording such as “[custodian’s name], as custodian for [grandchild’s name] under the Indiana Uniform Transfers to Minors Act.”<\/em> The custodian manages the money for the child, and the funds pass to the grandchild at age 21. Families wanting more control over timing often consider a trust instead.<\/p>\n A beneficiary form decides who receives money, not who raises the child. Talk with an Indiana family law or estate attorney about guardianship nominations and how they fit with your existing custody arrangements.<\/p>\n American Business Insurance in Greenwood, IN helps grandparents review their life insurance options<\/a> and set up beneficiary designations that work. Families throughout Greenwood, IN can start the conversation with American Business Insurance<\/a> before the holiday rush.<\/p>\n","protected":false},"excerpt":{"rendered":" Across Johnson County, plenty of grandparents have stepped into a second round of parenting, handling school drop-offs at Center Grove, homework at the kitchen table, and weekend ballgames around town. When a grandparent becomes the primary caregiver, life insurance takes on a new job. The question shifts from leaving something behind to making sure a […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[2,10,15],"class_list":["post-103","post","type-post","status-publish","format-standard","hentry","category-life-insurance","tag-american-business-insurance","tag-greenwood","tag-life-insurance"],"_links":{"self":[{"href":"https:\/\/www.myabi.com\/blog\/wp-json\/wp\/v2\/posts\/103","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myabi.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myabi.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myabi.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myabi.com\/blog\/wp-json\/wp\/v2\/comments?post=103"}],"version-history":[{"count":1,"href":"https:\/\/www.myabi.com\/blog\/wp-json\/wp\/v2\/posts\/103\/revisions"}],"predecessor-version":[{"id":104,"href":"https:\/\/www.myabi.com\/blog\/wp-json\/wp\/v2\/posts\/103\/revisions\/104"}],"wp:attachment":[{"href":"https:\/\/www.myabi.com\/blog\/wp-json\/wp\/v2\/media?parent=103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myabi.com\/blog\/wp-json\/wp\/v2\/categories?post=103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myabi.com\/blog\/wp-json\/wp\/v2\/tags?post=103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Pairing the Policy With a Care Plan<\/h2>\n