Can I buy life insurance for my child, and is it worth it?

Question

Marc Frye · Accepted Answer

Yes, you can purchase life insurance for a child, provided you have an insurable interest, which parents and grandparents typically do. Child life insurance policies are usually permanent policies that build cash value over time and can remain in force into adulthood.

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.

Bill Sandefur · Answer

You can buy insurance in that the child is the insured and 100% yes I highly encourage that my clients purchase policies on the life of their children for different reasons. It's cheaper when you're younger if the job reached an age where they were no longer such as a terminal illness then they would have had coverage in place already. I have three children all three of them are assured. When they reach an appropriate age which I will determine I can turn the contract over to them and they pay for it or I continue to pay it and then structure beneficiaries as needed

Answered by Bill Sandefur on June 22, 2026

Agent Licensed in GA

Answered by Bill Sandefur Life Insurance Agent

Marc Carr · Answer

Yes, you can buy life insurance for your children. It is worth it because it is very inexpensive since they are so young and generally very healthy. Plus permanent insurance also called whole life insurance can build cash value, and even become paid up insurance.

Answered by Marc Carr on June 17, 2026

Broker Licensed in OH

Answered by Marc Carr Life Insurance Agent

Gregory Gudis · Answer

Yes, you can buy life insurance for your child, and in many cases it can be a smart long-term decision. The biggest benefit is locking in low rates and guaranteeing coverage while they're young and healthy.

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.

Can I buy life insurance for my child, and is it worth it?

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Can I buy life insurance for my child, and is it worth it?

Agents: Share Your Expertise

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Agent Locator

Life Agents HubA non-government resource website

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A non-government resource website