You can purchase life insurance on minors and it is a very smart thing to do, especially if your minor child may be overweight or develop juvenile diabetes.
If you lock in a low rate on life insurance for a minor, when they are young and healthy, they can keep that rate for the rest of their lives.
Buy a permanent juvenile life insurance policy, build equity inside the policy over the years, and the rate for the life insurance coverage will remain low their entire lifetime. They can even borrow cash from the life insurance policy to use for college, a home, or retirement, without paying taxes.
In addition, juvenile life insurance policies may guarantee your child can increase their coverage upon reaching adulthood without having to price insurability or taking a physical exam.
Learn more about juvenile life insurance and how it works.