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Generations Plus

Secure Your Child’s Financial Future

  • CheckmarkLow premiums
  • CheckmarkCoverage from $10,000 - $50,000
  • CheckmarkLife insurance for children and grandchildren

About Generations Plus

What Is Included in the Generations Plus Plan?

  • Coverage at $10,000, $15,000, $20,000, $25,000, $30,000 , $40,000 and $50,000
  • Very low premiums that are locked in when the child is young
  • Coverage that doubles automatically with no increase in premium at age 18
  • Guaranteed ability to purchase additional insurance with no medical underwriting or physical exams
  • C4 guaranteed purchase options to buy up to double the initial face amount each time at ages 21, 25, 30, 35, and/or 40 (premiums determined at application)
  • Guaranteed ability to receive coverage 10 times the value of the initial policy purchased
  • Lock in ability to get more AAFMAA insurance for life

Who Is Eligible for the Generations Plus Plan?

  • Children aged 15 days to 14 years old
  • Grandchildren aged 15 days to 14 years old


Affordable Life Insurance for Children and Grandchildren

The main reason for buying a life insurance policy is to protect and provide for those who depend on you financially, even after your death. While it may not seem necessary to purchase life insurance for a child or grandchild — someone who does not have dependents who rely on their financial support — a Generations Plus policy passes on lifetime access to AAFMAA benefits and puts your younger generations on the path to a secure financial future.

Purchase life insurance for your child or grandchild now to lock in permanent coverage that guarantees their insurability, regardless of future health conditions. No matter what happens, you can rest easier knowing you’ve set your child or grandchild up for financial success in their future and they won’t have to worry about getting permanent life insurance coverage for themselves in the civilian marketplace at a much higher rate.

Read more: Why insure your child or grandchild through AAFMAA?

Protect What Matters Most with Generations Plus from AAFMAA

Generations Plus grants you peace of mind knowing your child or grandchild is protected by AAFMAA coverage from $10,000 to $50,000, with low premiums that are locked in while your child is young (under the age of 14). When they turn 18, their coverage amount will automatically double with no premium increase. This policy also guarantees your child’s ability to purchase additional insurance later in life, with no medical underwriting or physical exams.

When you purchase AAFMAA life insurance for your children and grandchildren, they’re entitled to take advantage of our other products and services as long as their original policy is active—even much later in life. Not only can they purchase additional life insurance coverage in the future at lower rates, but they’ll also have access to mortgages, wealth management, and the other financial services AAFMAA offers exclusively to the military community.

The Generations Plus Plan provides important financial security to your children and grandchildren for years to come. Call to speak with an AAFMAA Membership Coordinator today.

Sample Rates and Comparisons

Monthly Premium Rates

Issue Age $10,000 $15,000 $20,000 $25,000 $30,000 $40,000 $50,000
under 1* $5.90 $8.85 $11.80 $14.75 $17.70 $23.60 $29.50
1 $6.00 $9.00 $12.00 $15.00 $18.00 $24.00 $30.00
3 $6.40 $9.60 $12.80 $16.00 $19.20 $25.60 $32.00
4 $6.60 $9.90 $13.20 $16.50 $19.80 $26.40 $33.00
5 $6.80 $10.20 $13.60 $17.00 $20.40 $27.20 $34.00
6 $7.00 $10.50 $14.00 $17.50 $21.00 $28.00 $35.00
7 $7.30 $10.95 $14.60 $18.25 $21.90 $29.20 $36.50
8 $7.50 $11.25 $15.00 $18.75 $22.50 $30.00 $37.50
9 $7.80 $11.70 $15.60 $19.50 $23.40 $31.20 $39.00
10 $8.10 $12.15 $16.20 $20.25 $24.30 $32.40 $40.50
11 $8.30 $12.45 $16.60 $20.75 $24.90 $33.20 $41.50
12 $8.60 $12.90 $17.20 $21.50 $25.80 $34.40 $43.00
13 $8.90 $13.35 $17.80 $22.25 $26.70 $35.60 $44.50
14 $9.20 $13.80 $18.40 $23.00 $27.60 $36.80 $46.00

* minimum age of 15 days


 

Example Coverage

Issue Age $10,000 $15,000 $20,000 $25,000 $30,000 $40,000 $50,000
At Age 18 (coverage doubles with no premium increase) $20,000 $30,000 $40,000 $50,000 $60,000 $80,000 $100,000
By Age 35 or 40 (if all four guaranteed options are executed) $100,000 $150,000 $200,000 $250,000 $300,000 $400,000 $500,000


 

Common Questions

Buying life insurance for a child or grandchild helps secure their financial future by locking them into coverage at lower premiums. Purchasing life insurance for children through AAFMAA also guarantees their insurability later in life, regardless of future health conditions. 

There are a variety of financial products and solutions that can help you plan for your child’s financial future. Not only can you purchase a life insurance policy for your child, but you can see how your own life insurance coverage compares to what you’d get from AAFMAA to ensure your family is adequately covered. Additionally, you can engage financial planning and wealth management services from AAFMAA’s wholly-owned subsidiary, AAFMAA Wealth Management & Trust LLC (AWM&T), to plan and save for your child’s future expenses. Learn more about how AWM&T’s services can help.