It depends on the age of your child, the type of policy, and how much coverage you want—but starting early makes a big difference.

For example, a whole life policy for a newborn might cost around $75–$300/month, depending on the plan. That premium stays fixed, and many policies can be fully paid off in 10 or 20 years—after which the policy continues to grow and stay active for life.

You’re not just buying insurance—you’re building long-term, tax-free savings they can use anytime.

That’s exactly the point—because your child is young and healthy, you can lock in the lowest possible rate and guarantee their ability to be insured for life, even if their health changes in the future.

But most importantly, this type of policy isn’t just about insurance. It’s also a powerful savings and investment tool. A portion of your premiums goes into a tax-advantaged account building cash value, which grows steadily over time and can be used for anything: education, a first home, starting a business, or supplementing retirement. The earlier you start, the more time that money has to grow—without stock market volatility or government restrictions.

And while no one wants to imagine the worst, the reality is that in the unthinkable event of a child’s passing, a life insurance policy can give grieving parents the financial space to take time off work, cover final expenses, or support other family needs—without additional stress during an already devastating time.

So while we hope the death benefit is never needed, it’s the living benefits—the financial growth, flexibility, and peace of mind—that make this one of the most forward-thinking gifts you can give your child.

That’s a common belief—but it’s based on term life insurance, which is very different from what we’re talking about here.

Term life insurance is like renting coverage: it lasts for a set number of years (like 10, 20, or 30), and if the insured person doesn’t pass away during that time, the policy expires with no payout or savings. It’s purely for protection and doesn’t build any value. That’s often the kind of insurance people hear about—and yes, in that context, it can feel like a sunk cost.

But permanent life insurance—like the kind we recommend for children—is completely different. It never expires, builds tax-free savings (called cash value), and can be used during the insured person's lifetime for anything they need. It’s more like owning a financial asset than renting temporary protection.

So instead of just paying for “what if,” you're building something that grows over time—something they can use in life and rely on for life.

Then you’ve created a powerful financial tool that can benefit them for life—or even future generations. They can use it later for retirement, or pass it on. And if you still own the policy, you can access the cash value for any purpose too. It’s flexible, long-term wealth planning—no matter what path they take.

We get it—there are endless costs when it comes to raising a child: daycare, clothes, food, activities, education. It can be hard to know where to invest and what to delay.

But this is one of the few things you can do now that pays off for the rest of their life. A small monthly premium today—often less than what many families spend on takeout or toys—can grow into a powerful financial asset that supports your child’s future education, housing, or retirement.

This isn’t just about life insurance—it’s about building a flexible, tax-free savings plan they can access anytime, no matter what path they take.

Book a meeting with us and we’ll help you look at your finances and identify where your money can be working harder for you—so you don’t have to spend more, just spend smarter. And if you have support from grandparents or extended family, they can also fund or co-own the policy to help make this happen.

Think of it as planting one of the most important seeds for your child’s long-term security.

Yes—grandparents can absolutely purchase and pay for a life insurance policy for their grandchild. In fact, it’s a popular and meaningful way for grandparents to contribute to a child’s future.

They can choose to be the owner of the policy (meaning they control it and make the payments), or simply fund a policy owned by the child’s parent. Either way, it’s a powerful legacy gift that offers both protection and long-term financial growth.

It’s a beautiful way to invest in your grandchild’s future—whether for education, a first home, or simply the peace of mind of lifelong coverage.

Term insurance can be a great short-term solution—it’s cheaper upfront and offers a larger death benefit for a fixed number of years (like 10, 20, or 30). But once that term ends, coverage stops—and renewing it gets drastically more expensive as you age. If you live past the term (which is likely), there’s no payout and no value left in the policy.

That’s the big difference: term insurance is temporary, while permanent insurance lasts for life—no matter when you pass away. It’s not just about protection; it’s about guaranteeing a legacy for your loved ones.

Buying permanent life insurance for your child now:

• Locks in a low rate for life

• Ensures coverage, no matter their future health

• Grows tax-free cash value they can use for a home, travel, business, or retirement

• Creates the potential for multigenerational wealth—if your child never touches the policy, it could one day benefit your grandchild

Term life doesn’t offer any of that. No lifelong protection. No living benefits. No financial growth.

Permanent life insurance is both protection and a powerful asset—especially when you start young.

Yes, it absolutely still makes sense. While many people wish they had started when their children were babies, the good news is that permanent life insurance remains a powerful financial tool no matter when you begin.

Young adults can still qualify for preferred rates, and starting now still unlocks all the core benefits — including lifelong coverage, cash value growth, and access to tax-advantaged funds that can be used for things like education, a first home, or even retirement planning. In fact, many people don’t discover the strategic benefits of permanent insurance until adulthood, and it still offers tremendous value.

The key difference is that the younger you start, the lower the cost and the more time the policy has to grow — but it’s never too late to begin building long-term financial security. Whether your child is 15 or 25, this is still a smart and lasting gift.