Key details about senior life insurance
Whole life or final expense policies are often used for this purpose since they pay as long as premiums are paid and the policy stays in force, unlike term insurance, which could expire before it's needed.
Want an answer specific to your situation? A licensed agent can walk through your options by phone.
Call (844) 658-4509An agent can also explain how to structure beneficiary designations properly if grandchildren are still minors, since insurers typically require a custodian or trust in that case.