Life Insurance for Children
If you are shopping for life insurance for children, then you
are probably concerned about leaving a financial burden on your loved ones. Most shoppers look for life
insurance for babies so that they can lock in a low rate while they are young and in perfect
health. Many parents will also purchase life insurance for their children at this age. One thing
you can be sure of is that you have plenty of choices for life insurance coverage and the cost is
Life Insurance for Children - Your Options
You have two basic options for child life insurance coverage - term life
insurance and permanent life insurance. A term policy is
temporary coverage that can last anywhere from one year or as long as 40 years, depending on the company that you
choose. It is very affordable coverage because you can get a big policy for a very reasonable
Unlike term insurance, permanent life insurance will last you for your entire lifetime, as long as you continue
to pay your premiums. Your policy will also accumulate cash value on a tax-deferred basis. Whole life and universal life are the 2
most common permanent coverage options.
Sample Rates for Children's Life Insurance
Here are a few sample rates to give you a general estimate of how much a policy for your child could cost. These
are based on a healthy child with no pre-existing conditions. Your rate could be lower or higher
depending on your situation.
$250,000 30 Year Term Life Insurance:
18 Year Old Male - $292.50 per year
18 Year Old Female - $242.50 per year
$250,000 Level Pay Whole Life Insurance:
18 Year Old Male - $1,095 per year
18 Year Old Female - $945 per year
These are just a few examples. Obviously if your are child is under 18 the rates will be considerably less. Fill
out our short information form to get personal rates today.
Does Your Child Have Some Health Problems?
Although most children are in perfect health, there are some young ones who have pre-existing health
conditions from birth or other things that have developed during childhood or the teenage years. In most cases, you
can still get affordable rates, though you have to be sure to apply to the appropriate companies. It is best
to speak with an experienced agent about the particular health situation because he or she can guide you
towards the best carrier for your needs. You can also fill out our short rate request form and compare rates from
companies that offer coverage based on your situation.
Get Started Today
The first step when looking for a child's life insurance policy is to shop around. Rates can vary by as
much as 70% from one company to another so it definitely pays to compare. Get a free no obligation quote today and
compare multiple quotes in one place.