What Is Juvenile Life Insurance?

Juvenile life insurance is a permanent policy purchased for a minor child, usually under the age of 16, by a parent, grandparent, or guardian. It provides coverage for life and pays out a death benefit at any age as long as sufficient premiums are paid. A few different options are available depending on your needs.

Whole Life Insurance Policies

Many child life insurance policies are whole life insurance policies. It provides coverage for life as long as the premiums are paid. The rates are also locked at the time of purchase. Another benefit of whole life insurance is it builds cash value paid through your premium.

InsuranceProvides life insurance coverage
SavingsBuilds savings over time through premiums paid
ExpensesCovers policy expenses

The insurance company takes the cash value amount and puts it into a conservative investment vehicle, so it has the potential to grow over time. The cash value component provides another benefit to whole life insurance policies. It is a conservative investment that can, over time, supplement retirement income or become part of your child’s overall financial portfolio. In addition, once cash begins accumulating in the policy, your child can tap into these funds if needed.

Benefits of Juvenile Life Insurance

Many parents find whole life insurance for their children an attractive option. It guarantees coverage for life as long as premiums are paid and the contract retains its value. The policy cost stays the same throughout the rest of your child’s life. Your child doesn’t have to undergo any medical exams, and coverage is guaranteed as they age. The cash value component provides another benefit by building savings over time that your child can tap into if needed.


Life insurance coverage does not come as a one-size-fits-all policy. Every family has different needs, so it’s important as you research your options to find the ones that work best for your family. There are other options you may want to consider to still provide some protection for you and your children. Before deciding on any life insurance policy, it’s essential to look at all factors, both the benefits and the potential limitations. Seek guidance from a financial advisor who can help you work through the best options for your situation.

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