It's a permanent life insurance policy that provides lifetime protection on your child. Parents may purchase life insurance on their children.
These whole life insurance policies may build cash value inside the policy over time, and they provide a death benefit upon the passing of your child.
Usually, the rate charged for a child whole life policy remains the same throughput the life of the policy.
Some plans start as low as just a few dollars per month.
The premium charged will vary by insurer based on your child's age, gender, health, and the amount of life insurance.
Here's how to buy childrens whole life insurance coverage online.