Why Would I Need Life Insurance For My Kids? 
A child is not an economic unit . Quite the opposite , however , the loss of a child can have a financial impact on the family . This is rarely the motivation for the purchase of life insurance on a child but if you drive the city streets often you will see people asking for donations to help bury a child . It is sad but it does happen . Most people who purchase life insurance on a child are trying to secure coverage for a lifetime at an early age in order to set a very low premium for the coverage and to avoid the possibility that the child might become uninsurable in the future . My brother became uninsurable at about age 22 . This is an issue that concerns many . Life insurance plans are often seen as savings vehicles to accumulate money for future requirements . It is probably not the best way to save money for a college education but it does provide a systematic way to set aside money and for that money to grow free of current taxation . The life insurance policies available to children often have a rider that allows the child to purchase additional life insurance at specific times in the future without proving evidence of insurability . This can be extremely important . 