What Is Life Insurance For A Child? 
Life insurance for a child is usually Whole Life insurance that would pay a death benefit if the child should pass away , or provide cash values to use for college or other expenses when they are older . My parents took out life insurance on their six children , and when my sister died as a toddler , the money from the life insurance was a ray of sunshine at a very dark time . However , thankfully , by far the most common use for life insurance for a child is for large expenses when they are older . 