Single Premium for Kids – No Cash Value

My mom passed away about three months ago and I just got a letter from Prudential. Hadn't seen any communication from Prudential to her as I went through her estate, had no indication a policy existed. When I called them (through Prudential, not the number on the scammy looking letter), the person I spoke to stated the policy was opened on her 1st birthday in 1942. Something about this has struck me as ridiculously romantic; the notion that my grandparents and possibly my great-grandparents funded this policy just in case their great-great-chldren could use the help. I and my 3 kids are fortunate/blessed/priviliged to be in a position where our needs are met.

This has gotten me thinking about structuring something similar though. I have three, 7/5/3. Does a vehicle exist such as Single Premium with No/Little cash value where the only/primary focus is on death benefit to the next generation exist? Would try to be large enough to not be symbolic ($1000 in 1942 was much different than $1000 in 2022 and will be much different in 2102), but definitely not my primary transfer vehicle. 10-15K spend per kid in 2023 feels about right.

Thoughts?

submitted by /u/silver_sAUsAGes
[comments]