Give your child a lifetime of protection.

Child life insurance is a permanent whole life policy that covers your child or grandchild. Because it's whole life, it lasts as long as your child is alive and doesn't expire like term insurance. It provides a death benefit and also builds tax-deferred cash value over time. Children generally don't have to take a medical exam, and because they're young and healthy, premiums are much lower than an adult's — which is why buying early can make so much sense.

Families choose it for two main reasons. First, protection: if the unthinkable happens, the benefit can cover a funeral, burial, outstanding medical bills, and time away from work, so a grieving family isn't left fundraising to pay the bills. Second, lasting value: the policy locks in a low premium and future insurability while your child is healthy, and builds cash value they can use later in life. It's a popular choice for families with a history of health conditions in particular.

A Guaranteed Insurability Option lets your child buy additional coverage later in life — often at set ages or milestones — with no new health questions or medical exam. Many policies also allow the face amount to be increased once your child reaches adulthood. That matters because you can't predict the future: if your child were to develop a chronic illness or disability, a GIO guarantees they can still get the coverage they need, even when their health would otherwise make it difficult or impossible.

Yes. Like a traditional whole life policy, a child life policy builds tax-deferred cash value that grows as your child grows. It becomes a ready source of liquidity that can be used later for expenses such as school tuition, a first home, or a vehicle, and over time the cash value can even exceed the face value. Keep in mind that drawing cash from the policy reduces both the cash value and the death benefit until the funds are repaid with interest.

It can be either. A standalone child policy is whole life coverage in your child's own name that stays with them for life and builds cash value. A child rider is an add-on to a parent's policy — often one of the least expensive options, and a single rider can usually cover all eligible children in the household. Many carriers let a rider convert to permanent coverage later. A licensed agent can compare both approaches and help you decide which fits your family.

Child life insurance is very affordable because rates are based on a young, healthy insured. Premiums can be designed to stay level for life, be paid over a shorter period such as ten years, or even be settled with a single premium for a lifetime of guaranteed coverage. Because you're buying young, you lock in a low rate that won't rise as your child ages.

Generally no. Children are typically not required to go through the medical exam that most adults face when applying for permanent life insurance, which makes the process simple and fast. Your agent can confirm the exact requirements for the carrier and policy you choose.