When To Buy Life Insurance For Child? 
You should buy life insurance for a child within the first 30 days of birth . Insuring a child is very affordable and does a few things . First , in case of loss of life , it would pay final expenses which range from $ 8,000 to $ 12,000 . Next it will protect the child 's insurability . If a child ends up with juvenile diabetes or cancer and they have purchased a convertible policy , they now have life insurance at a very affordable rate the rest of their life . Lastly , purchasing cash value life insurance can help the child in later life with funds for college , down payment for a house or even retirement . 