Why Do People Buy Life Insurance For Children? 
Here are two good reasons to buy life insurance on children : 1 -RRB- They enter adulthood already insured . This means that at the time they want to get married and buy a house , they have insurance already in place . They do not have to go to market and pay a rate at their current age . You and I would have really appreciated saving that money when we were qualifying for a mortgage . In addition , what if they unfortunately have come down with a medical condition , or a taken on an adventurous hobby like scuba diving ? That would cost extra premium . They can save money there too . 2 -RRB- The right life insurance product can grow substantial cash values over time . A whole life or strong universal life policy taken out on a minor , and then left to grow over decades , can yield a huge amount of cash . This can be used to supplement retirement , pay for college-education , start a business , and many other needs . 