What Grandparents Should Know About Life Insurance and Raising Children

What Grandparents Should Know About Life Insurance and Raising Children

Grandparents can serve as guardians when the parents can’t. However, as convenient as this arrangement is, some life insurance questions need to be addressed in the meantime.

Grandparents are valuable members of their families even as they age. In some cases, the matriarch and patriarch of a family are in a better position to raise their grandchildren or in some cases, serve as guardians and caregivers when the parents are unable to. However, as convenient as this arrangement is, some life insurance questions need to be addressed in the meantime.

Improve Safety Conditions

First of all, it’s important to make the home safer for everybody who lives in it. Doing this is good for both home insurance and life insurance policies. Larger furniture should be stabilized so that they can’t tip over. Attaching gates at both ends of staircases can make a big difference too – you can keep curious kids from getting into a cabinet or room you don’t want them – that’s why childproof locks and baby gates are so necessary for toddlers – and with these gates in place, you can control the roaming of energetic, mischievous pets as well.

Electrical outlets should be covered up, and upgrades made to the staircase and in the bathroom to make it safer would be a good idea for grandparents and grandchildren alike – all of these can decrease the likelihood of dangerous slips, trips, and falls.

Think About Auto Insurance

When it comes to life insurance, there’s bound to be some overlap with auto insurance. Whether you are planning on passing down your car to one of your older grandchildren, or you’re teaching them how to drive, it’s also crucial to consider car insurance. Grandchildren with licenses can be added to the current policy, but they can also have a brand new one set up for them.

Leave Something Behind

It’s a sad reality that grandparents must think about funeral preparations and final expenses more often than their children or grandchildren. However, with that sobering prospect in mind, grandparents can leave something behind through their life insurance policy. Term life policies, in particular, can be more beneficial during the preparations for retirement and after retirement begins. Plus, these policies are an affordable solution for how to handle the mortgage payment in the future, securing the home for the rest of the family.

Get in Touch with Wachter Insurance

Whether you need homeowners’ insurance or auto insurance, our team at Wachter Insurance Agency, Inc. is here to help. We offer our clients competitive rates, professional customer service, and a huge range of policies to choose from for your needs. We have been serving Maryland, West Virginia, Virginia, Pennsylvania, and the District of Columbia since 1969 and we would love to help keep your home and family safe every day of the year. For more information, call us at (301) 371-6335 or visit us online. For more blogs like these, follow us on Facebook, Google+, Twitter, and Pinterest.

 

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