Why Should I Buy Life Insurance for My Child?

Shawn Plummer

CEO, The Annuity Expert

Reasons to Buy Life Insurance for Your Child

  1. Pay for End-of-Life Expenses: Life insurance can cover funeral costs and other expenses associated with the loss of a child, alleviating financial burdens during a difficult time.
  2. Ensure Your Child Will Always Have Life Insurance: By purchasing life insurance early, you guarantee your child’s insurability, regardless of future health changes.
  3. Lock in Lower Premiums: Childhood policies often come with lower premiums that remain constant, making them more affordable over time.
  4. Give Your Child Access to Cash Value: Some policies accumulate cash value over time, which your child can use for future financial needs, like education or a down payment on a home.

Minimum Age for Buying Life Insurance for a Child

  • Age Limit: Life insurance for children can typically be purchased as soon as they are 14 days old.
  • Varies by Company: Exact age requirements may vary depending on the insurance provider.

Maximum Age for Children’s Life Insurance

  • Typical Upper Limit: Generally, a parent, grandparent, or guardian can buy life insurance for a child under the age of 18.
  • Company-Specific: This upper age limit can vary between insurance companies.

Related Reading: Can I Cash Out My Child’s Life Insurance Policy?


Understanding the age requirements and benefits of purchasing life insurance for your child is crucial. It offers financial security and long-term advantages for your child’s future. Considering the varying policies and premiums of different insurance companies is important.

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Shawn Plummer

CEO, The Annuity Expert

Shawn Plummer is a licensed financial professional, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

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