Grandparents are especially concerned about making sure their grandchildren have a good future. That’s why the Allianz "Grandchildren’s Policy" offers extensive insurance coverage for grandchildren – and children, godchildren, nieces and nephews – from birth until at least age 18, along with a nest egg for the future.

"Customer surveys told us the grandparent generation wanted to help provide for their grandchildren," explains Gerhard Rupprecht, Chairman of the Allianz Deutschland AG Board of Management. "This innovative product of ours provides a solution that covers children’s needs for both insurance and a future financial safety net."

When a young child has to go to the hospital, parents want to be there. The Grandchildren’s Policy includes a private health insurance rider – besides other benefits, one parent can stay with the child overnight. If a child needs extended care, the policy provides a monthly extended care payment. If an accident causes the child to become disabled, there’s an additional one-time payment.

It’s certainly worthwhile to provide early for grandchildren’s education. The Grandchildren’s Policy includes a fund-based annuity, which provides an attractive nest egg that can also be paid out for a financial boost at the child’s 18th birthday. Or the child can leave the capital component in place to form the foundation for a long-term retirement plan. Grandchildren can also take over other components of the Grandchildren’s Policy themselves once they come of age.

There’s also a life insurance component. If the person covering the premiums dies while the policy is in place, Allianz will continue paying all the premiums for the accident, extended care and capital formation coverage until the child reaches 18.

The Grandchildren’s Policy is the first example of a new world of multi-line products from Allianz. This year’s particular focus will be products specially designed for clients age 55 and above. "Our innovative solutions make us the right contact for our demanding clients in the second half of their lives, and position us as a pioneer in this growth market," says Rupprecht.

This summer, Allianz will be expanding the line with its "Schutzbrief 55Plus",  a kind of "roadside assistance package" with extensive aid and care benefits for seniors who want to be cared for professionally at home after an accident or illness, or if they apply for one of the long-term care levels defined by law.