For example, if your child were to ass away at an early age, purchasing a whole life insurance provides for the cost of a burial and funeral for your child.
In addition, a whole life policy gives a child a head start in life from a financial perspective. The price is very affordable for a chunk of life insurance coverage that can be there for the rest of your child's life. And, it will build u cash value inside the policy from which your child may take a loan if needed.
Once your child's whole life policy is purchased it cannot be canceled by the insurer due a change in your child's health, or due to your child's future occupation
And, child whole life coverage may guarantee your child the option of adding additional coverage to the policy when reaching adulthood, regardless of health or occupation.
Here's how you can buy whole life insurance for your children today.