Life Insurance: Is It For Children?

Robin Wells

If someone approaches you about purchasing life insurance for your children, your first reaction may be to recoil. No one wants to think about the death of a child. Despite this quite normal reaction, buying life insurance for your offspring can be an excellent investment that will benefit them in the long run. As a parent, you need to consider acquiring life insurance for your children.

Death Benefit

If something did happen to one of your children, the grief would be crushing. Unfortunately, you would still have to take care of practical matters. The cost of a funeral can be prohibitive and add to your stress at one of the worst times of your life. Life insurance on a child can take care of these final expenses and keep you from suffering financially as well as emotionally. If you already have a life insurance policy on you and your spouse, you may be able to add a death benefit for your children to your already existing coverage. 

Lifelong Coverage

If you insure your children while they are young, you will "lock in" coverage for them over the course of their lifetimes. If your child develops a medical condition later on or develops some bad habits such as smoking, their coverage will stay intact, and the premiums should be lower than if they purchase it as an adult. Also, your children are unlikely to purchase coverage for themselves as young adults. When you purchase coverage for young children, you are doing their older selves an invaluable service. 


Many parents find purchasing whole, universal, or variable life insurance policies an easy way to create savings for their children. In addition to providing death benefits, a life insurance policy accrues value over its lifetime and allows your children to either cash it out or borrow against it for expenses such as college or a wedding. You are buying protection and financial security at the same time. 

Children's life insurance is a touchy subject for many people. No one wants to contemplate the death of a child. The financial issues that follow a death can make a painful time worse. Also, life insurance policies offer more than just a death benefit. You can buy your child financial security while guaranteeing their future insurability. Consult with your insurance agent like one from The Blondin Agency Inc - Nationwide Insurance to find out what type of coverage will work best for you and your family.