Yes, child life insurance plans are available for parents to buy on their kids, and the rates are usually very low.
In fact, some life insurance plans you buy on yourself may allow the parent to add a child rider to the policy for a small amount of money. This child rider adds a death benefit of maybe $5,000 or $10,000 of life insurance coverage for your child.
In addition, there are child life insurance plans available from many insurers, including Gerber and Globe Life which may offer up to $30,000 of life insurance coverage or more for your child to have his/her own life insurance policy.
Some of the benefits of a child life insurance plan may include money to pay for a child's burial, guaranteed life insurance as an adult, and the opportunity for your child to purchase more life insurance when they reach age 18 or 21.
The cost of child life insurance plans are usually quite affordable, with monthly rates as low as few dollars or more, depending on the amount of life insurance and your child's age.
Here's how you can learn more about finding low cost child life insurance plans and request a free quote online.