Richard CanfieldPodcast Host and IBC Advisor, Ascendant Financial · Authorized Infinite Banking Practitioner | Author of 4 Books

Can You Buy Life Insurance on a Great-Grandchild? #lifeinsurance

20 Oct 2026 · 1 min

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In this brief conversational excerpt, Richard Canfield explains how Nelson Nash, after being deemed permanently uninsurable in 1987, continued to acquire permanent life‑insurance policies that automatically grew a death benefit each year. Nash maintained these policies up to his death at age 88 and, remarkably, purchased a new permanent policy for his great‑grandchild roughly four months before his passing. He did this not for his own coverage but to lock in a lasting death‑benefit contract that would provide future financial opportunity for the great‑grandchild. The discussion highlights the use of permanent life‑insurance as a generational wealth‑building tool, even when the policyholder can no longer obtain new coverage.

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Nelson Nash, in his situation, you know, from 1987 onwards, he was permanently uninsurable. But yet, because he had a bunch of insurance policies, he had permanent death benefit growing and accumulating each and every year on autopilot, still taking place, and he was still getting policies. He passed away at 88, just shortly after his 88th birthday. And Nelson would say he was 88 revolutions around the sun because he always liked to tell things in some kind of a mystery to make And he had gotten a policy on a great-grandchild roughly, I think it was about 4 months before that. So he had taken out a policy. He was still buying policies even though he wasn't— he knew it wasn't for him. He knew he wasn't going to do it or use it, but he knew he could get it and he could lock it in. He could bind that contract while he was still alive and create that permanent future opportunity for a great-grandchild.
Absolutely.