Set aside money for your grandchild

A friend wanted to set aside some money to be given to a grandchild when he reaches the age of 25 years.

Here is a suggestion. Take the Flexi-Link policy in the name of the grandparent, and nominate the child as the beneficiary.

The grandparent will have control over the policy during her lifetime.

On the death of the policyholder, we will transfer the policy in the name of the beneficiary and continue it for the remaining term. If the beneficiary is still a minor, the parent can act as the guardian.