I NEED to understand what kind of life insurance policy I need to protect my grandson whom I’ve raised since birth.

I’m a 60 year old woman. I do not drink or smoke or do any drugs. I am relatively healthy aside from having arthritis. I have raised my grandson since birth who is now 19 years old. He graduated high school and wants to become a pilot, so he is focusing his energy and education in that direction. My fear is that if something happens to me, my grandson will be out in the cold and surviving on his own! My husband, who I married later in life when my grandson was older, has never really involved himself in my grandson’s life, and I can't see him helping him in the way that I would. In fact, I could see him setting a deadline and telling him he wants him out of the house by…(?) I'm afraid he wouldn't have a place to live, and he'd end up just getting a job to makes ends meet and not have a way to follow his dreams. Yes, I KNOW many people have struggled on their own and lived on the street and made something for themselves. However, I want my grandson to be protected financially. I would like to make him the beneficiary of a life insurance policy but I don’t understand how they work! I hear about whole life plans, 10, 20, 30 year plans, etc… WHAT kind of policy allows me to pay a monthly payments and IF I were to pass away, the money, whether it be $100K, $200K would go directly to him (however I will have stipulations via an attorney as to how it is spend and when it’s given to him). PLEASE help me understand what type of life insurance policy am I looking? What matches the type of policy that I’ve explained to you? Thank you so much in advance for your help, and I truly hope he never has to cash in or rely on a life insurance policy, as I hope I can always be there for him and support and to cheer him on as he follows his dreams!

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See, this is one of those stressful situations that us grandparents face when we have taken on this role that is really meant for young, married parents. However, I wouldn't change it for the world! I HONESTLY couldn't love anyone more than I love him! He has been an absolute TREASURE in my life!

submitted by /u/Jaloglow