Most of us spend a lot of money on gifts during the holidays — especially for the children in our lives. Nothing beats the joy of watching them unwrap the number-one item on their wish list. But the truth is, no gift remains a favorite for very long. Many won’t last a month, let alone a year. 

There is, however, a way to give the children in your life a gift that will provide value for a lifetime — at a fraction of the price of trendy toys. Purchasing life insurance coverage for your children or grandchildren is a thoughtful way to secure their financial future. It’s also a great way to introduce them to AAFMAA. Children and grandchildren of active AAFMAA Members are also eligible to purchase insurance and retain lifetime access to AAFMAA’s resources and benefits. 

Here are the life insurance products available for the children and grandchildren of AAFMAA Members, based on their age: 

Value-Added Whole Life 

For grown children and grandchildren ages 24 and below, this permanent life insurance policy offers lifelong coverage, builds cash value over time (tax-deferred), and guarantees fixed premiums that never increase. Coverage amounts range from $10,000 to $1,000,000. This policy provides the flexibility to pay premiums in advance, eliminating the need for future payments while maintaining lifelong coverage. Lock in low rates now and secure financial stability for your loved ones. 

Generations Plus 

Designed for children and grandchildren between the ages of 15 days and 14 years, Generations Plus provides coverage from $10,000 to $50,000 at locked-in premiums. Coverage automatically doubles at age 18 without any increase in premium. Additionally, this policy guarantees the child or grandchild the option to purchase increased coverage — up to 10 times the original amount — at specific ages (21, 25, 30, 35, and 40) with no medical underwriting required. This feature ensures they can expand their coverage even if their health changes. 

Level Term I 

Available to grown children between the ages of 18 and 49, and to grandchildren ages 18-26, this affordable term life insurance offers coverage from $50,000 to $800,000. The premiums remain fixed throughout the term, and the policy includes a conversion option to Value-Added Whole Life coverage without requiring additional medical underwriting. With this plan, you can introduce your children to the benefits of life insurance and AAFMAA Membership at a low cost. 

Looking for a Better Fit? 

Additional life insurance options are also available for AAFMAA Members’ kids and grandkids at certain age levels, including Simple Term, Level Term II, 5-Year Renewable Term, Guaranteed Acceptance+, Wealth Builder Life Insurance, ANNUITYLife®, and Final Expense+. Get your loved ones started with right-sized life insurance today. Contact an AAFMAA Membership Coordinator at 877-398-2263 or get a quote online. 

This article was originally published December 15, 2020.