Can I buy life insurance for my child, and is it worth it?
Answered by 8 licensed agents
Whether it is worth it depends on your goals. The primary purpose is generally not to replace income, since children typically do not have financial dependents. Instead, families often purchase child life insurance to lock in future insurability, provide a modest death benefit for unexpected expenses, and begin building cash value that the child may access later in life.
Supporters of child life insurance like the fact that coverage can be secured while the child is young and healthy, potentially protecting against future health conditions that could make insurance more expensive or difficult to obtain. Others feel that parents are better served by making sure they have adequate life insurance on themselves first and investing additional dollars elsewhere.
For most families, the priority should be ensuring that parents have sufficient life insurance coverage. Once that need is met, a child life insurance policy can be a reasonable option for those who value the long-term guarantees and future insurability benefits it may provide.
Answered by Marc Frye on June 17, 2026
Agent Licensed in NV
Answered by Bill Sandefur on June 22, 2026
Agent Licensed in GA
Answered by Marc Carr on June 17, 2026
Broker Licensed in OH, CA, IL, NC & TX
That said, every family is different. Before purchasing a policy for a child, I always recommend making sure parents have their own protection in place first.
If you're wondering whether it makes sense for your family, reach out and I'd be happy to walk you through the pros and cons.
Answered by Gregory Gudis on June 17, 2026
Broker Licensed in AZ, CO, CT & 16 other states
• Child term rider: added onto a parent’s existing policy, low cost (often $50–200/year for $10k–25k coverage)
• Juvenile whole life policy: a standalone policy in the child’s name, builds small cash value over time
Arguments for it:
• Locks in low premiums for life, since rates are based on age at purchase
• Guarantees future insurability — the child can get coverage later even if they develop a health condition that would otherwise make them uninsurable or raise rates
• Builds modest, tax-deferred cash value (whole life only)
• Covers funeral/final expenses in the rare event of a child’s death
Arguments against:
• Life insurance’s main purpose is income replacement for dependents — children don’t have dependents, so that core rationale doesn’t apply
• The same money often grows faster in a 529 plan or other investment account
• Whole life cash value growth is slow, especially in the early years
• Financial planners often suggest covering the parents’ own life insurance needs first, since that’s what actually protects the family financially
I’m not a financial advisor, so this isn’t a recommendation — just the tradeoffs people typically weigh. The right call depends on your priorities (locking in insurability vs. maximizing growth elsewhere).
Answered by Nader Mishreky on June 25, 2026
Broker Licensed in MI, FL, OH & TX
Answered by Amber King on June 25, 2026
Agent Licensed in MO
Answered by John Henley on July 3, 2026
Agent Licensed in MS
Answered by Michelle Brown on July 10, 2026
Agent Licensed in FL
Tags: Advice for Families
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