Updated: September 17, 2025
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Life insurance policies for children are typically whole life policies, providing lifelong coverage with guaranteed premiums, cash value accumulation and a death benefit.
Mutual of Omaha offers the best life insurance for kids. Its Children’s Whole Life Insurance offers lifetime protection and guaranteed premiums for children aged 14 days to 17 years old.
Gerber is the best life insurance company for babies, offering a unique benefit that doubles the coverage amount once the child turns 18.
North American ranks first for indexed universal life insurance for children, offering coverage for kids as young as 15 days old.
State Farm and Protective have the best child term riders, which allow parents to extend coverage to their children.
Mutual of Omaha stands out as a leading provider in the life insurance market for children. This company offers both standalone life insurance for children and term life child riders, providing versatile and comprehensive options for young policyholders.
The best choice for you depends on your needs. Below are the top life insurance companies by category to help you find the right fit.
Overall | Mutual of Omaha | $5,000 to $50,000 | 14 days old to 17 years old |
Babies | Gerber | $5,000 to $50,000 | 14 days to 14 years old |
Indexed Universal Life | North American | $50,000 | starts at 15 days |
Child Rider | State Farm | $5,000 to $20,000 per child | 15 days old to 25 years old |
Child Rider | Protective | $25,000 per child | 15 days old to 18 years old |
Mutual of Omaha provides a range of products, including term life, whole life and universal life insurance, ensuring customers can access diverse options that suit their needs and circumstances. With an impressive history spanning 116 years, Mutual of Omaha has also established itself as a premier children's life insurance provider.
Its Children's Whole Life Insurance, designed for children from 14 days old to age 17, guarantees never-increasing premiums and lifetime coverage.
The Dependent Children’s Rider, which can be added to a base policy, offers tailored solutions for young family members. This rider allows coverage extension to all unmarried dependent children in the household, including automatic coverage for children born or adopted after the rider is issued.
Gerber stands out in the children’s insurance space with its Grow-Up® Plan, a whole life policy designed for children as young as 14 days to 14 years old. This policy costs as low as $3.70 per month, though actual premiums depend on the child's age, coverage amount selected and state of residence. Coverage ranges from $5,000 to $50,000, with guaranteed premiums that never increase and cash value that grows steadily over time.
A unique benefit of this plan is that the coverage amount automatically doubles during the year the child turns 18, at no added cost. At age 21, ownership transfers to the child, who can continue the policy, access accumulated cash value, or expand protection through a guaranteed purchase option. With strong financial stability and affordable monthly premiums, Gerber delivers lasting protection and long-term value for families.
North American offers a robust lineup of Indexed Universal Life products, including Builder Plus IUL 4, Smart Builder IUL, and Protection Builder IUL 2. These policies can be issued starting at 15 days old, providing death benefit protection and indexed cash value growth through features like floors, caps and flexible loan options.
North American holds A+ ratings from A.M. Best, Standard & Poor's and Fitch Ratings, demonstrating strong financial stability. Its products are well-suited for long-term planning, but details specific to children’s coverage are not fully available online, and pricing requires a custom quote.
State Farm offers competitive life insurance solutions for families with children. State Farm's Children's Term Rider is particularly noteworthy. It provides flexible and comprehensive coverage for children up to age 25 or until the policyholder turns 65, with $5,000 to $20,000 coverage per child.
The child rider can be conveniently converted to permanent insurance, ensuring long-term security for the child, regardless of future health changes. The option to buy up to five times the amount of coverage on the child's 18th birthday adds another layer of adaptability and foresight to their offerings.
Protective delivers compelling children’s coverage through its Children’s Term Rider, available for children aged 15 days to 18 years and offered as a rider on adult policies. Protective provides affordable, family-wide protection with a single flat annual charge covering multiple children.
When each child reaches age 25, they can convert to a permanent life policy up to five times the rider amount (no underwriting required). Coverage continues even if the insured parent passes away, and the rider remains effective until age 75.
Finding the right life insurance for your children secures their future insurability and locks in a low rate. This guide covers how to buy the right policy, compare offers and options, and explore how life insurance for children works.
No parent or grandparent wants to think about the death of their child or grandchild. Unfortunately, it's a reality for some.
Children's life insurance can pay for medical bills and funeral expenses if the child gets sick or injured and passes away. Buy life insurance for children if they're at higher risk of a genetic or hereditary condition that could prevent them from getting life insurance when they are older.
Most children's life insurance policies ask a few health questions or have none at all, and few require a medical exam. If you're concerned about your child's future insurability, buying coverage when they're younger and presumed to be the healthiest may make sense. If your family generally enjoys good health, has no history of uninsurable health issues and you can comfortably cover medical expenses and funeral costs should the unthinkable happen, buying life insurance for your children may not be necessary.
Your family has a history of health conditions that could affect future insurability. | ✅ | |
Covering unexpected medical or funeral costs would be difficult without insurance. | ✅ | |
You want to use a policy’s cash value as a savings tool or legacy gift. | ✅ | |
Locking in low premiums and guaranteed lifetime coverage is a priority. | ✅ | |
Your family is generally healthy and can handle unexpected costs comfortably. | ✅ | |
You prefer to invest in higher-return options like a 529 plan or custodial account. | ✅ |
Certain medical scenarios make children's life insurance particularly valuable for future insurability. Consider coverage if your family has a history of diabetes, heart disease, cancer or other hereditary conditions that may develop in adulthood. Buying coverage now can ensure your child has access to affordable coverage regardless of future health changes.
Additionally, children currently managing conditions like asthma, ADHD or mild developmental delays should secure coverage now, as these conditions can affect adult life insurance rates or availability. Even minor health issues can impact future insurability, making early coverage a smart protective measure for at-risk families.
Buying life insurance for your child follows a straightforward process, and preparation makes it simpler for parents to navigate requirements and timelines. Here's a step-by-step process to help you:
Decide between individual life insurance or adding a child rider to your existing policy. Most parents choose coverage of $10,000–$25,000. Consider your budget and long-term goals when selecting coverage amounts and premium payment schedules.
Focus on companies with strong financial ratings (A- or better from A.M. Best) and competitive rates for children's coverage. Compare premium costs, coverage options, conversion rights and customer service ratings to find the best fit for your family's needs.
Collect your child's birth certificate, Social Security number and basic health information to answer medical questions on the application. Having these documents ready before starting the application process will help you complete the paperwork quickly and avoid delays in processing.
Most applications take 15–30 minutes and can be submitted online or through an agent. Answer all health questions honestly and thoroughly. Double-check all information for accuracy, as errors can delay approval or affect coverage eligibility later.
For coverage under $50,000, most insurers only require health questions without medical exams. The insurance company reviews your application and may request additional medical records. Expect approval within 2–4 weeks for straightforward applications with no health complications.
Generally, there's no waiting period on a child's life insurance policy. Once approved, coverage begins immediately with a full death benefit available. You'll receive your policy documents and payment instructions.
Set up automatic premium payments to ensure continuous coverage and avoid accidental lapses that could affect your child's future insurability options.
Policies typically cost $10–$30 per month for $10,000–$25,000 in coverage, though some insurers set lower or higher limits. A child rider added to a parent’s policy is often cheaper, averaging $5–$10 per month total.
These costs are estimates based on industry averages. Individual rates vary by insurer and coverage amount.
A life insurance policy for children is typically a whole life policy, a form of permanent life insurance designed to last their lifetime. Premiums and death benefits are guaranteed, while cash value growth is guaranteed at minimum rates specified in the policy contract. Cash value accumulates throughout the policy's duration and can be accessed later.
Whole life insurance differs from term life insurance, which offers level premiums and death benefits for a certain number of years and doesn't build cash value. While more expensive, buying whole life insurance for a child can be cost-effective compared to waiting until children are old enough to buy their own term life policy.
Whole life policies include a cash value component that grows over time at a modest interest rate (which varies by company and product). After covering insurance costs, remaining premiums build cash value that can be borrowed against or withdrawn for any purpose.
The cash value can be taken out as a loan, used to supplement retirement income, used to pay policy premiums or withdrawn. Withdrawing funds will reduce the death benefit owed to your beneficiary unless the amount is repaid before your death. Withdrawals above basis may be taxable and could cause policy lapse if the cash value becomes insufficient to cover insurance costs.
If you’re considering buying life insurance for children, weigh the pros and cons to decide if it’s the best choice for your situation:
Children's life insurance can cover funeral expenses and related costs. Child riders on parent policies often provide similar coverage at lower cost.
Many policies include guaranteed insurability riders that lock in your child's ability to purchase additional coverage later, regardless of future health changes.
When you buy whole life insurance, rates are guaranteed never to increase, and the death benefit will never decrease for the life of the policy as long as premiums are paid.
After insurance costs and fees are paid, the rest of the premium goes toward cash value. Over time, cash value grows tax-deferred and can be accessed for any reason through a loan or withdrawal.
Most children's life insurance policies are capped at $50,000.
Children’s life insurance is a lifetime commitment of payments unless you buy a limited-pay whole life policy. The cash value can be used to pay future premiums, but this will lower the amount your child has available later in life.
Children’s whole life insurance builds cash value, but returns are low compared to options like a 529 plan. Direct investments usually deliver higher growth without the fees and limits that come with children’s life insurance.
Adding a children's term rider to a parent's term or permanent life insurance policy is usually more cost-effective than buying a whole life insurance policy for a child.
Rider details and cost vary by carrier, but most children's term riders cover all children born or adopted into the family for one fee. At a certain age, the child or parent can convert the rider coverage amount into a permanent life insurance policy for each child. If you want to cover your children but don't want to pay for a separate life insurance policy, consider adding a children's term rider to your new or existing policy.
Depending on the life insurance product and carrier, a guaranteed insurability option rider may be a free add-on or bought separately.
This guaranteed option allows you to buy more life insurance at specific events or ages without requiring a medical exam or health questions. For example, milestone birthdays, such as age 21, and significant life events like marriage or the birth of a child, will activate the guaranteed option. You can buy up to a certain amount defined by your policy without proving insurability.
Life insurance for children is usually only a wise investment if the child's future insurability is at risk because of family health history. But children's life insurance is usually not the best investment. With high fees and limited cash value growth, investing money for your child's future in a standalone account will yield better returns much sooner than the slow growth that comes with whole life insurance for kids. Alternatives to consider include:
Buying life insurance for children can be a proactive way to secure their future financial stability. Life insurance ensures that financial support will be available for expenses like funeral costs or counseling in the event of an unforeseen tragedy. Securing a policy at a young age can also lock in lower premiums and guarantee insurability, regardless of future health changes, providing a financial safety net that can be beneficial throughout a child's life.
We analyzed life insurance offers from various companies to determine the best providers for children's coverage. Mutual of Omaha is the best overall company. Gerber offers the best option for babies, while North American has the best indexed universal life insurance for children. State Farm and Protective are the top choices for a child rider.
We answer common questions about life insurance for kids:
The best life insurance company to insure your child offers the right coverage and policy options at a fair rate. Based on MoneyGeek's analysis, Mutual of Omaha is the best company for those looking for a children's policy. Gerber offers a good alternative for families with babies. North American's indexed universal life insurance policies are available to kids. Among insurers offering child riders, State Farm and Protective stand out.
You should buy life insurance for your child if you have a family health history that could lead to a chronic, genetic or hereditary illness in your child, as the condition may affect their future insurability. Locking in low rates now with a guaranteed-insurability option rider can help your child get more coverage in the future.
Most children’s life insurance policies are whole life insurance, which provides lifelong coverage, fixed premiums and cash value growth. These policies work well with smaller coverage amounts, usually $5,000 to $50,000.
Parents who prefer a lower-cost option can add a child rider to their own policy for temporary coverage. A few insurers, such as North American, also offer indexed universal life (IUL) for children, but these policies are less common and require more active management.
Children’s life insurance costs average around $10-$30 monthly for $10,000–$25,000 in coverage, but rates vary by insurer and coverage amount. Premiums stay level for the policy's life, and the cash value grows tax-deferred over time.
Most insurers allow parents to buy coverage once a child is 14 to 15 days old and up until age 18. Some carriers accept applications for infants as young as one week old, while others require waiting until 30 days after birth.
Age requirements vary by state and insurer. Some states may have additional restrictions on purchasing life insurance for minors.
Grandparents can buy life insurance for grandchildren, but parental consent is usually required. A parent may need to sign consent forms and provide access to health information if requested. Many grandparents use children's life insurance to contribute to long-term financial security or legacy planning.
Most children's life insurance policies don't require medical exams. Medical exams are only required for larger coverage amounts, often above $50,000, or if medical concerns arise during underwriting.
Finding the right life insurance for your child can be overwhelming, especially when balancing protection needs with budget realities. Most parents don't know where to start or what actually matters when evaluating insurers for children's policies.
How We Evaluated Insurers
Financial Strength Analysis: We examined each company's A.M. Best ratings and years in business to identify insurers with proven staying power. Children's life insurance is a long-term commitment, so financial stability isn't negotiable. Companies with strong ratings demonstrate they can pay claims and weather economic downturns.
Customer Experience Assessment: We analyzed complaint index data from the National Association of Insurance Commissioners (NAIC) to understand how insurers treat policyholders when problems arise. Lower complaint ratios indicate fewer customer disputes relative to market share, suggesting better service quality.
Buying Process Evaluation: We assessed each company's application process, focusing on:
Product Range Review: We evaluated the types of life insurance policies each company offers for children and families. Some insurers specialize in whole life for minors, while others provide broader family coverage options.
We didn't factor in affordability because children's life insurance quotes aren't publicly available and require individual underwriting based on the child's age, health and policy type.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.
